Sandvine acquired by Francisco Partners' affiliate and combined with Procera Networks

On July 17, 2017, Sandvine Corporation ("Sandvine") announced that it entered into an arrangement agreement with PNI Canada Acquireco Corp. ("PNI"), an affiliate of Francisco Partners and Procera Networks, Inc. ("Procera"), 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 C$4.40 per share, implying an aggregate fully-diluted equity value for Sandvine of approximately C$562 million.

The implementation of the arrangement was approved at the special meeting of shareholders of Sandvine on September 7, 2017 and by the Superior Court of Justice of Ontario on September 11, 2017.

The completion of the arrangement was announced on September 21, 2017, following which Sandvine will be delisted from the Toronto Stock Exchange.

Sandvine's network policy control solutions add intelligence to fixed, mobile and converged communications service provider networks, to increase revenue, reduce network costs and improve subscriber quality of experience.

Procera is a leading subscriber and network intelligence provider.

Francisco Partners is a leading global private equity firm, which specializes in investments in technology businesses.

Further information on the PNI arrangement can be found on Canada Newswire's website.