Private equity firm Francisco Partners is set to acquire Sandvine for some $44 million ($562 million Canadian), and merge the company with Procera Networks. The cash price of $4.40 per share figures out to a 40 percent premium on top of Sandvine’s closing stock price of $2.48 per share on May 25.Read More
Ontario-based Sandvine is a networking equipment company that specializes in network policy control products for fixed, mobile, and converged service provider networks. Procera, a California-based company, reportedly provides network visibility, intelligence, and control across mobile and fixed broadband networks.
The combined company will retain Sandvine’s moniker, and be led by Procera’s current CEO Lyndon Cantor and CFO Richard Deggs. Sandvine CEO 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,” Caputo commented.
AT&T's SVP and FirstNet head Chris Sambar will head to Capitol Hill this week to testify before the Senate Commerce Subcommittee on Communications, Technology, Innovation, and the Internet. The hearing will center on “An Update on FirstNet,” and will be held at 10 a.m. Thursday, July 20.
Sprint has first dibs on TCL Communication’s latest BlackBerry smartphone. The carrier is reportedly the first to offer the new BlackBerry KEYone, which is available for $22 per month on an 18-month installment plan. The device features a 4.5-inch display with a 12 mp rear camera, Qualcomm Snapdragon 625 chip, and Qualcomm Adreno 506 GPU.
“This is a highly anticipated launch as we partner with Sprint who is among the first U.S. carriers to offer the award-winning BlackBerry KEYone,” said Steve Cistulli, president and GM of TCL Communication, North America. “Expanding the availability of the BlackBerry KEYone is a significant milestone for BlackBerry Mobile, furthering our commitment to offer the best in mobile security and a distinctly different communication experience to customers across the U.S.”