Ranch Creek Partners, in partnership with Los Angeles-based St Cloud Capital, has made a majority equity investment in Los Angeles-based Apposite Technologies, a provider of enterprise-class network simulation products.
The company has also appointed Steve Fazio as its new CEO to lead Apposite's growth by focusing on the development of complementary products and features, as well as an expansion of the company's sales team and channel partnerships.
"Apposite has done a tremendous job in establishing itself as the solution for network simulation technology to the largest companies in the world," says JD Kritser, founder and managing director of Ranch Creek Partners and chairman of the board of Apposite. "With Steve's leadership and the continued involvement of the entire Apposite team, we are poised to accelerate growth both organically and through acquisitions to extend our leadership position in the industry."
Fazio has more than 20 years’ experience of launching and operating companies in consulting, network technology, IT solutions and managed services.
Apposite's WAN emulation appliances simulate network conditions to test the performance of software applications in the lab under real-world conditions. Apposite's products are widely deployed by leading enterprises, application developers, telecoms carriers, and government and military organisations across the world.
"With the proliferation of cloud computing and software defined networking, the need for application testing on a simulated network has never been higher," says Fazio. "It's rare to come into a new opportunity with a world-class product, experienced management and a solid customer base, but that's what's here at Apposite. I'm excited by this opportunity and look forward to building on the success of the Apposite team."