Sandvine Announces Termination Of Arrangement Agreement With Scalar Acquireco Corp.
WATERLOO, ON – July 17, 2017 – Sandvine Corporation (“Sandvine” or the “Company”) (TSX: SVC) announced today that Sandvine and Scalar Acquireco Corp. (“Scalar”) terminated the previously announced amended and restated arrangement agreement between the Company and Scalar (the “Arrangement Agreement”) dated effective May 26, 2017, as amended on July 6, 2017. In connection with the termination of the Arrangement Agreement, the Company paid CAD$16.9 million, less applicable withholding taxes, to an affiliate of Scalar.
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. Our networking solutions perform end-to-end policy control functions, including traffic classification, policy decision, and enforcement. Deployed as virtualized network functions or on Sandvine’s purpose-built hardware, the products provide actionable business insight, and the ability to deploy new consumer and business subscriber services, optimize and secure network traffic, and engage with subscribers.
Sandvine’s network policy control solutions are deployed in more than 300 networks in over 100 countries, serving hundreds of millions of data subscribers worldwide. www.sandvine.com.
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