Sandvine announced hat it has entered into an arrangement agreement with an affiliate of Vector Capital, a leading global private equity firm specializing in transformational investments in established technology businesses. Vector Capital was founded in 1997 and is based in San Francisco.
Under the agreement, an affiliate of Vector Capital, Scalar AcquireCo will acquire all of the issued and outstanding shares of Sandvine, other than certain shares held by members of management, for CAD $3.80 in cash per share. The price per share implies an aggregate fully‐diluted equity value for Sandvine of approximately CAD $483 million.
Vector’s financial and strategic support will enable the company to continue its leadership in network policy control. Its long-term approach will enable Sandvine to continue to expand its lead in its traditional areas of strength and better execute on a number of emerging opportunities, such as its next-generation virtualized offerings and cyber security.
Dave Caputo, President and CEO, Sandvine
There are a number of long-term growth opportunities that Vector, as a specialist technology investor, is enthusiastic about and can help us pursue more aggressively. We see this as an excellent opportunity to better serve our 300-plus customers, to enhance our strategic position over the longer term, and to do it The Sandvine Way.
Rob Amen, MD, Vector Capital
Vector was specifically formed to collaborate with market leading technology companies to accelerate their growth and redefine their markets in new and disruptive ways. We believe that Sandvine’s emerging product opportunities and transition to fully virtualized solutions represent an opportunity for such a disruption.
