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Sandvine accepts C$562 mln offer from Francisco, Procera
July 17, 2017 / 3:07 PM / 2 months ago

Sandvine accepts C$562 mln offer from Francisco, Procera

July 17 (Reuters) - Sandvine Corp said on Monday it had terminated a deal with Vector Capital and accepted a higher offer from a unit of private equity firm Francisco Partners and Procera Networks Inc, valuing the network equipment maker at about C$562 million.

Francisco and networking equipment maker Procera will pay C$4.40 per Sandvine share.

Sandvine will be merged with Procera, whose Chief Executive Lyndon Cantor will lead the combined entity.

Earlier in the month, Sandvine had accepted an amended offer from Vector Capital unit Scalar Acquireco Corp for C$4.15 per share, valuing Sandvine at about C$529 million. (Reporting by Anirban Paul in Bengaluru; Editing by Anil D‘Silva)

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