Procera Networks to Be Acquired by Francisco Partners
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Francisco Partners to Acquire Procera Networks (PKT) in $240M Deal
April 22, 2015 6:34 AM EDTProcera Networks (Nasdaq: PKT) announced that it has signed a definitive agreement to be acquired by private funds managed by Francisco Partners Management, L.P., a leading global technology-focused private equity firm, in an all-cash transaction valued at approximately $240 million.
Under the terms of the definitive agreement, Francisco Partners will commence a tender offer no later than May 5, 2015 to acquire all outstanding shares of Procera's common stock for $11.50 per share in cash. This represents a premium of approximately 21% over the closing price of Procera's common stock on April 21, 2015, and a premium of approximately 32% over... More
