- 3 years ago


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.