SDxCentral reports that the venture capital company which owns Procera Networks is purchasing all remaining stock in Sandvine Networks to merge them together. Francisco Partners and PNI, affiliate companies are managing the acquisition.
The merged company will be led by the Procera team, but keep the Sandvine name. Procera’s CEO, Lyndon Cantor and CFO, Richard Deggs keep their roles in the combined company. Dave Caputo will join the Board of Directors of the combined company as Non-Executive Chairman.
“This is a very exciting next step for Sandvine and Procera. As technologies and networks continue to evolve, I firmly believe that the combination of Sandvine and Procera creates the premier provider in our markets—with the scale and innovation needed to address our customers’ opportunities to build more intelligent networks,” – Dave Caputo, President and Chief Executive Officer, Sandvine.
The deal values Sandvine at $562mn CAD. (Sandvine is a Canadian company.) Both companies have a portfolio that covers traffic management platforms. These are used by over 400 communications service providers and 1 billion subscribers in 100 countries.
“Sandvine has done a tremendous job becoming a leader in its market. Along with the rest of the Procera team, we look forward to bringing the best of both companies together to accelerate our strategy as the preeminent provider in the emerging Network Intelligence market. The combined organization will deliver greater capability to serve our customers, execute on innovation initiatives and expand our addressable market.” – Lyndon Cantor, CEO, Procera.
Sandvine’s press-release and Procera’s press-release are available.
