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itrinegy.com

Founded Year

2004

Stage

Acquired | Acquired

Valuation

$0000 

About iTrinegy

iTrinegy offers Network Emulator Products that enable it to provide Virtual Test Networks to manage the risk of networked applications in LANs, WANs, Wireless, Radio, Mobile, Satellite, and Cloud networks. It was founded in 2004 and is based in Reno, Nevada.On April 12th, 2022, iTrinegy was acquired by Calnex Solution.26M and $4.57M.

iTrinegy Headquarters Location

255 W. Moana Lane Suite 105

Reno, Nevada, 89509,

United States

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Latest iTrinegy News

Calnex Solutions acquires iTrinegy for £3.5 million

Apr 12, 2022

Calnex Solutions acquires iTrinegy for £3.5 million Deal is split between £2.5m upfront and the rest paid on achievement of financial targets Linlithgow-headquartered Calnex Solutions has acquired software defined test network developer iTrinegy for £3.5m. The consideration consists of £2.5m in cash on completion, with up to a further £1m dependent on achievement of agreed financial targets. A maximum of 322,579 new shares will be issued under the earn-out payment. Founded in 2006 and headquartered in Stevenage, iTrinegy’s NE-ONE hardware and software-based network emulation platforms provide organisations - primarily across the technology, financial, gaming and military and government sectors - with the ability to accurately recreate complex, real-world network test environments in which to analyse the performance of applications, before deployment. The iTrinegy platform is also applicable for cloud-based and virtual development and testing environments, a rapidly growing sub-sector of the app development market. Its customer base includes organisations such as Juniper Networks, JPMorgan Chase, Ubisoft Games, as well as the government and military in the UK and US. Calnex plans to scale the business by using its sales and marketing capabilities to build, support and grow a reseller network - particularly into the US - to accelerate sales. iTrinegy generated revenues of approximately £1.4m in the year to 30 September 2021, with a gross margin of around 80%. Approximately 60% of iTrinegy’s revenue was from North American customers. The business is being acquired on a cash free, debt free basis. The acquisition of iTrinegy is anticipated to be earnings accretive in 2023 and to be an important contributor to Calnex group profit in subsequent years. Read More Tommy Cook, founder and chief executive at Calnex, said: “With both businesses developing high quality, complex, technical testing solutions, trusted by some of the world’s most demanding organisations, we are particularly excited by the strategic fit of the two organisations. “The cloud migration taking place across multiple sectors and the growth in internet-based applications is fuelling demand for test solutions that can analyse, predict and verify application performance over complex, distributed networks. We see great opportunity ahead for the “NE-ONE technology and look forward to working together to accelerate iTrinegy’s growth and open up new customer segments for Calnex.” Calnex also reported progress on delivering its strategy for the 12 months to 31 March 2022, with continuing demand for its range of test and measurement solutions. In a trading update last month, the company stated that it experienced reduced availability of certain components in the final quarter of 2022, in line with the well-documented and ongoing global semiconductor shortages. The company has now managed these constraints and has shipped all orders scheduled for March as planned. As a result of this, the board has confirmed that the results for 2022 will be slightly ahead of current market expectations. Calnex’s order book continues to build and currently sits at record levels heading into the full year 2023. It expects to release full year results on 24 May and will provide further guidance on prospects for 2023 at that time. Don't miss the latest headlines with our twice-daily newsletter - sign up here for free . Read More

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  • When was iTrinegy founded?

    iTrinegy was founded in 2004.

  • Where is iTrinegy's headquarters?

    iTrinegy's headquarters is located at 255 W. Moana Lane, Reno.

  • What is iTrinegy's latest funding round?

    iTrinegy's latest funding round is Acquired.

  • Who are the investors of iTrinegy?

    Investors of iTrinegy include Calnex Solutions.

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