Thursday, April 17th7.0°C
19345
21086

Tech. firm sold for $28M

Procera Networks, Inc. (NASDAQ: PKT), has entered into a definitive agreement to acquire Vineyard Networks Inc., a leader in the Enterprise OEM DPI market. The acquisition will enable Procera to extend its Intelligent Policy Enforcement business into the growing Enterprise DPI market.

Procera's corporate office is in California, their Canadian headquarters is in Kelowna.

Procera believes that network intelligence technology is foundational for networks of the future. James Brear, Procera’s President and CEO, says, “Every network element will require intelligence. Our strategic vision is to enable networks of any size to have the intelligence needed to operate effectively.

The press information from Procera says, PacketLogic Report Studio is a leap forward in that it allows operators to easily create reports on fine-grained information about a company's Internet usage.

Procera directly addresses this need for service providers of all types through our PacketLogic solutions. Vineyard enables Procera to expand our total addressable market through their business to include enterprise network equipment vendors, adding the entire enterprise space along with additional opportunities in the service provider OEM (Original Equipment ) market. The addition of Vineyard, which has 34 employees mostly in engineering and product development, establishes Procera as the clear leader in the high-growth DPI (Deep Packet Information) market.”

The companies are on the leading edge of allowing businesses using the Internet to truly understand the traffic on their sites, from how much bandwidth is required to deliver services to ways to improve networks for a better customer experience when using the website.

“Procera and Vineyard have natural synergies,” said Jason Richards, Vineyard’s CEO. “Vineyard’s leadership in Enterprise DPI combined with Procera’s industry-leading suite of PacketLogic products provides customers and partners with a single solution for Intelligence, Analytics and Enforcement.”
The growing use of Software Defined Networking, cloud services and storage, as well as the “Bring Your Own Device” (BYOD) trend for consumer and enterprise, has blurred the line between enterprise and service provider networks.

Consumer, enterprise and service provider network operators are searching for solutions that provide better visibility and control in an ever-changing landscape of applications, content owners and content-delivery networks. Existing network solutions that do not have sophisticated network intelligence cannot effectively meet the Quality of Experience expectations of broadband subscribers.

Procera believes that its combination with Vineyard will create a new force in the DPI market for Service Providers and Enterprises. The total addressable market (TAM) for the Enterprise OEM DPI market is expected to be over $300 million in 2013.

The total consideration for the acquisition is $28.0 million CAD, comprised of $15.4 million CAD in Procera common stock and $12.6 million CAD in cash. The acquisition is subject to the satisfaction of certain closing conditions, and is expected to close on or before January 15, 2013.



Read more Business News

20150


Recent Trending




Today's Market
S&P TSX14465.34+18.82
S&P CDNX997.32-0.65
DJIA16396.89-27.96
Nasdaq4082.772-3.454
S&P 5001861.24-1.07
CDN Dollar0.9097+0.002
Gold1299.40-3.70
Oil104.41+0.65
Lumber325.00-3.80
Natural Gas4.697+0.167

 
Okanagan Companies
Pacific Safety0.115+0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.21-0.01
Cantex0.045-0.005
Anavex Life Sciences0.365-0.01
Metalex Ventures0.0750.00
Russel Metals30.72+0.17
Copper Mountain Mining2.40-0.02
Colorado Resources0.2650.00
ReliaBrand Inc0.12-0.01
Sunrise Resources Ltd0.025-0.005
Mission Ready Services0.22-0.01

 
19691


21522

FEATURED Property
18499598364 Dunn Lake Road
5 bedrooms 3 baths
$399,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Time spent prospecting

How much time should you put into prospecting? The question is a bit of a puzzle. Ideally, there would be a reference book that lists, by industry, how much time you should invest in prospecting acti...


Valuation fears grip markets

The Big Picture Valuation fears grip markets Growing concerns about the level of stock market valuations sparked a risk-off trade in global markets this week. Investors are worried that many companies...


Quick and nimble

Photo: ContributedFor many businesses this has been a tremendously difficult time since the 2008 crisis. Business fell off. Sales techniques that always worked, well… stopped working. Customers...

_



21604

21641


Member of BC Press Council


21188