Francisco seeks to top Vector's $483 million bid for Sandvine

Waterloo network policy control solutions provider Sandvine Corp (TSX: SVC) said it has received an acquisition offer from U.S. private equity firm Francisco Partners. Francisco proposed to purchase all of Sandvine's issued and outstanding common shares for $4.15 per unit. Sandvine, which is led by President and CEO Dave Caputo, said it solicited the new offer during the "go-shop" period permitted under its agreement with U.S. private equity firm Vector Capital. Vector in May offered to buy the company for $3.80 per unit, which implies an equity value for Sandvine of about $483 million. Sandvine's board continues to recommend the Vector deal.

DealsCanadaNorth AmericaBriefs