Kemp Technologies, which provides load balancers and application delivery controllers (ADCs), has agreed to be acquired by Mill Point Capital for an undisclosed sum, the two companies said Monday.

Kemp's management team, including CEO Ray Downes, will stay on leading the company, according to a statement from the two companies.

Kemp's load balancing and ADC technology optimizes, analyzes and secures applications, easing deployment and detecting and resolving issues, according to the company website. It supports cloud-native, virtualized and hardware-based load balancers, and is compatible with platforms including Docker, VMware, Amazon Web Services, Nutanix and Microsoft Windows Competitors such as F5, Radware, A10, Citrix and Avi Networks.

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The company received $28 million funding in four rounds, with the latest in 2016, according to Crunchbase.

Founded in 2000, privately held Kemp is headquartered in New York, with regional hubs in Limerick, Ireland; Munich; Singapore and Sao Paulo, Brazil. It has more than 25,000 customers and 60,000 application deployments in 115 countries, Kemp says.

Kemp competitor F5 acquired NGINX, an open source ADC developer, in March for $670 million.

— Mitch Wagner Executive Editor, Light Reading