Ontario court OKs Francisco's $562 mln acquisition of Sandvine

Sandvine Corp (TSX: SVC) said the Ontario Superior Court of Justice has approved the acquisition of the company by U.S. private equity firm Francisco Partners and Procera Networks Inc. The deal, announced in July, is valued at about $562 million (US$444 million) and expected to close this month. It will see Sandvine, a Waterloo-based network policy control solutions provider, merged with Procera, a Fremont, California-headquartered networking equipment maker. Sandvine, which has been led since 2001 by President and CEO Dave Caputo, terminated an acquisition deal with Vector Capital prior to accepting the offer from Francisco.

DealsCanadaNorth AmericaBriefs