Cairo, Egypt August 30th, 2004 ITWorx announced today that it has finalized the sale of its NetCelera WAN optimization intellectual property to Swan Labs. The NetCelera WAN optimization technology and the associated intellectual property will be at the core of Swan Labs strategy to deliver a suite of new Enterprise Application Shaping (EAS) solutions that converge applications with networking to radically improve the performance of enterprise applications deployed over wide-area network (WAN) links.

“The sale of NetCelera to Swan Labs represents an excellent opportunity to accelerate the product’s development” declared Wael Amin, Managing Director ITWorx, “This acquisition will place NetCelera in the driver’s seat of the emerging EAS market by bringing together state of the art technology, incredible management talent and the right financing from visionary silicon valley venture capital firms such as Norwest Venture Partners, Doll Capital Management, and BGV.”

The NetCelera technology has proven to deliver a hard dollar ROI of six to nine months, and dramatically improve the end-user experience of enterprise applications accessed from remote offices. Analysts estimate that the already large market for WAN optimization and application acceleration technology will continue to experience rapid growth.

The acquisition decision represented a very fruitful opportunity for Swan Labs to jump-start its Enterprise Application Shaping product strategy. “We had a great team and a good idea, but we were going to spend the next 18 months actually making the product. ITWorx had a good product that we could make better” explained Andrew Foss, CEO Swan Labs.