WATERLOO — An American private equity firm has completed its acquisition of Sandvine Corp.Read More
PNI Canada Acquireco Corp., an affiliate of Francisco Partners, acquired all of Sandvine's common shares for $4.40 each in a deal that valued the Waterloo-based provider of internet network management equipment at about $562 million. Sandvine now is a wholly-owned subsidiary of PNI.
The deal, which will see Sandvine be combined with Francisco Partners affiliate Procera Networks, was approved by Sandvine shareholders on Sept. 7. It also has won court approval in Ontario.
Now that the acquisition is completed, Sandvine's common shares will be delisted from the Toronto Stock Exchange.