Apollo-Backed Riverbed Said to Near Sale to Vector Capital

Riverbed Technology Inc. is in advanced talks to be sold to private equity firm Vector Capital for about $450 million, including debt, according to people familiar with the matter.

The closely held software and networking company, which is backed by Apollo Global Management Inc., is in exclusive talks with Vector and could announce a deal within weeks, the people said, asking not to not to be identified because the matter is private.

The deal under discussion includes about $50 million in cash upfront to the lenders that control Riverbed and about $400 million of their debt kept on the ...