Procera Networks Inc, which is backed by Francisco Partners, has closed its previously announced take-private acquisition of Sandvine Corp, a Waterloo, Ontario–based network policy control solutions provider. The price of the transaction was C$4.40 per share. As a result of the closing, Sandvine will no longer trade on the Toronto Stock Exchange.
Waterloo, Ontario, Canada, September 21, 2017 – Sandvine Corporation (“Sandvine”) (TSX: SVC), Francisco Partners and Procera Networks, Inc. (“Procera”) are pleased to announce the completion of the previously announced plan of arrangement (the “Arrangement”), pursuant to which PNI Canada Acquireco Corp. (“PNI”), an affiliate of Francisco Partners and Procera, acquired all of the issued and outstanding common shares of Sandvine at a price of CAD$4.40 per share in cash. Pursuant to the Arrangement, Sandvine became a wholly-owned subsidiary of PNI.
The Arrangement was approved at the special meeting of shareholders of Sandvine on September 7, 2017 and by the Superior Court of Justice of Ontario on September 11, 2017.
With the completion of the Arrangement, the common shares of Sandvine will be delisted from the Toronto Stock Exchange.
About Procera Networks, Inc.
Since its inception in 2002, Procera has become a leading subscriber and network intelligence provider. The continued development of its award-winning ScoreCard and eVolution technologies, in addition to the benefits its solutions hold for network operators around data insights, traffic management, and policy control, lets Procera meet the ever-changing needs of service providers both today and in the heavily virtualized future.
For more information, visit http://www.proceranetworks.com or follow Procera on Twitter @ProceraNetworks.
About Francisco Partners
Francisco Partners is a leading global private equity firm, which specializes in investments in technology businesses. Since its launch over 17 years ago, Francisco Partners has raised over $10 billion in capital and invested in nearly 200 technology companies, making it one of the most active and longstanding investors in the technology industry. The firm invests in opportunities where its deep knowledge and operational expertise can help companies realize their full potential.
About Sandvine Corporation
Sandvine’s network policy control solutions add intelligence to fixed, mobile and converged communications service provider networks, to increase revenue, reduce network costs and improve subscriber quality of experience. Our networking solutions perform end-to-end policy control functions, including traffic classification, policy decision and enforcement. Deployed as virtualized network functions or on Sandvine’s purpose built hardware, the products provide actionable business insight, and the ability to deploy new consumer and business subscriber services, optimize and secure network traffic, and engage with subscribers.
Sandvine’s network policy control solutions are deployed in more than 300 networks in over 100 countries, serving hundreds of millions of data subscribers worldwide. www.sandvine.com.