Francisco Partners beats out Vector Capital for Sandvine
July 18, 2017
Internet Service Provider | Waterloo, Canada | Public-to-Private Buyout
Francisco Partners and portfolio company Procera Networks have agreed to acquire Sandvine (TSX: SVC) for C$4.40 per share, beating out an amended C$4.15 per-share bid from Vector Capital that Sandvine had conditionally accepted earlier this month. The latest deal values Sandvine, a provider of policy-control solutions for network providers, at some C$562 million (roughly $443 million). Sandvine will merge with Procera upon the deal's close.