Francisco Partners to Buy Procera in $240M Take-private Buyout
April 23, 2015
Francisco Partners has agreed to acquire Procera Networks (NASDAQ: PKT) in an all-cash transaction valued at about $240 million. As outlined in the deal, Francisco Partners will make a tender offer no later than May 5 to acquire all outstanding shares of the company's common stock for $11.50 per share, representing a roughly 21% premium over Procera's closing price Tuesday. Procera is a global subscriber experience company, providing solutions to help operators and vendors monitor, manage and monetize their network traffic.