Kelowna's Vineyard Networks Acquired for $28 Million

by Techvibes NewsDesk

Procera Networks announced today that it has entered into a definitive agreement to acquire Kelowna's Vineyard Networks for $28 Million.

Founded in 2008, Vineyard Networks has been named as a 2011 Red Herring Global 100 Tech Startup Winner, recognized as one of BC’s Top 10 Places to work, chosen for the 2012 Ready to Rocket list, and selected as one of Canada’s 25 Most Innovative Companies.

“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 total consideration for the acquisition is $28 million, comprised of $15.4 million in Procera common stock and $12.6 million in cash. The acquisition is subject to the satisfaction of certain closing conditions, and is expected to close on or before January 15, 2013.

Vineyard Networks
Kelowna, British Columbia, Canada

Vineyard Networks provides you with the tools to maximize the performance of your applications over your MPLS network. The products and services from Vineyard Networks provides you with the industry's first solution set designed specifically for MPLS Networks: MPLS Best Practices MPLS Reporting MPLS Monitoring Class of Service (CoS) Management MPLS and Network Security With Vineyard Networks... more

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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more

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