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Sandvine Corporation to be acquired by Francisco Partners’ affiliate

Staff Writer |
Sandvine Corporation announced that it has entered into an arrangement agreement with PNI Canada Acquireco Corp., an affiliate of Francisco Partners and Procera Networks, pursuant to which PNI will acquire all of the issued and outstanding common shares of Sandvine by way of plan of arrangement for cash consideration of CAD$4.40 per share.

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The price per share implies an aggregate fully-diluted equity value for Sandvine of approximately CAD $562 million.

The Corporation's special meeting of shareholders scheduled for July 18, 2017 has been postponed and a meeting to consider the PNI Arrangement will be held at a date to be determined by the board of directors of the corporation.

The combined company will be led by Procera’s chief executive officer, Lyndon Cantor, and Procera’s chief financial officer, Richard Deggs, and retain the Sandvine name.

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