Newspaper article The Canadian Press

Sandvine Accepts Francisco Partners Takeover Bid, Plan to Combine with Procera

Newspaper article The Canadian Press

Sandvine Accepts Francisco Partners Takeover Bid, Plan to Combine with Procera

Article excerpt

Sandvine board accepts takeover bid

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WATERLOO, Ont. - Sandvine Corp. (TSX:SVC) has switched allegiance to a new takeover offer worth $562 million, about 16.5 per cent more than its original suitor was going to pay before a rival came forward late last month.

Francisco Partners is offering $4.40 per share cash for Sandvine and intends to combine the Waterloo, Ont.-based company with Procera Networks, Inc. of Fremont, Calif.

Both Sandvine and Procera provide technology used by communications networks to manage costs and subscribers.

A special meeting of Sandvine shareholders that was scheduled for Tuesday has been postponed to an undetermined date.

The bidding for Sandvine began in May when it accepted a friendly offer of $3.80 per share from an affiliate of Vector Capital. …

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