F5 Networks stock slips on NGINX acquisition announcement

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F5 Networks Inc. FFIV, +2.60% shares slipped in the extended session Monday after the cloud and security application services company said it would acquire privately held NGINX Inc. for $670 million.

F5 Networks shares declined 1.3% after hours, following a 2.6% gain to close the regular session at $162.09. San Francisco-based NGINX makes applications that allow businesses "undergoing digital transformation to modernize legacy, monolithic applications as well as deliver new, microservices‑based applications," NGINX said on its website.

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