Francisco Partners in $240 million take private

The company will acquire Procera Networks

California-based Francisco Partners is continuing its recent buying spree with the $240 million take private of network services provider Procera Networks.

Francisco will pay $11.50 per share for the company – news which drove the stock price up some 20 percent in early trading in the US.

Procera provides real-time network visibility and monitoring services for IT shops, allowing them to monitor hot spots and troubleshoot accordingly. The company is based in Fremont, California.

The $11.50 price per share is reflective of the company’s share price in March. Procera had previously traded at $70 a share in 2003 after the company’s IPO.

Francisco Partners typically invests $50 million to $2 billion in technology companies. Transactions include buyouts, carve-outs, and equity investments.

Francisco Partners closed its current fund last year on just under $3 billion, according to Private Equity International’s research and analytics division.

In February, Francisco Partners let a $60 million financing round for automated investment service Betterment. Other investors in the round included Bessemer Venture Partners, Menlo Ventures and Northwestern Mutual Capital.