Internet Service Providers | Waterloo, Canada | Public-to-Private Buyout
Francisco Partners has bid C$4.15 per share to acquire Sandvine (TSX: SVC), topping a C$3.80 per-share offer from Vector Capital that Sandvine had previously accepted last month. Sandvine's board continues to recommend Vector's proposal. The bid from Francisco Partners was solicited by Sandvine during a go-shop period that followed the announcement of the initial deal. Vector has five business days to match the offer for Sandvine, a provider of policy-control solutions for network service providers.