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Procera Networks, Inc. (PKT) on Track for 75% Rev Growth in 2011 with New and Recent Contract Wins

|Includes: Procera Networks, Inc (PKT)

Procera Networks, Inc., an intelligent policy enforcement company, today announced its new contract with an eastern European national telecom operator, as well as a follow-on order with a major North American cable network operator, for an aggregate contract price of $4 million.

The company said the contracts reflect its significant progress and rapid growth leveraged by its growing network intelligence combined with its high-tech platform, PacketLogic™.

Procera said that PacketLogic’s scalability was a deal maker for the European and North American operators, which are both closely managing their capital expenditures while increasing their competitiveness to subscribers.

Procera’s customer base spans the mobile, cable and fixed-line operators in multiple geographic markets. In the last quarter, the company secured 30 new service provider customers, putting it on track to achieve approximately 75 percent revenue growth for 2011.

James Brear, president and CEO for Procera, noted the increase in recognition and demand for the company’s intelligence platforms.

“We firmly believe the growing momentum we’re experiencing is a clear and direct indication of operators recognizing the real business advantage that Procera Networks PacketLogic network intelligence platforms provide,” Brear stated in the press release. “Operators are using the intelligence and control gained from Procera’s technology to reduce costs and introduce innovative new services that are allowing them to differentiate themselves and drive additional revenue.”

Procera continues to expand its technology advantage, doubling its research and development team in the last year, with plans for additional hiring through the remainder of the year.

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