Sandvine clears final milestones enabling its emergence into an AI-driven software company conducting business in democracies, serving telcos, enterprises, managed service providers and cloud providers
PLANO, Texas--BUSINESS WIRE--
Sandvine Corporation and certain of its affiliates and subsidiaries ("Sandvine" or the "Company") today announced that on January 30, 2025, it received formal approval from the Ontario Superior Court of Justice (Commercial List) for its previously announced comprehensive restructuring, clearing the path to emerge from protection under the Companies' Creditors Arrangement Act ("CCAA") through a sale of its operations to a set of well-capitalized, newly formed entities. In addition, on February 12, 2025, the Company received recognition and enforcement of the Canadian Court's order within the United States. The Company plans to execute the restructuring transaction and launch its new brand in the coming weeks.
"Today we announce an important milestone in the Company's business realignment. We are confident that with the overwhelming support of our investors, customers, and employees, we are positioned for continued success as a technology solutions provider of choice for leading telecom and communications companies across the democratic world," said Carney Hawks, Chairman of the Board of Sandvine. "We look forward to entering this next chapter, which we are confident will be marked by innovation in best-in-class technology, strong business and financial performance, and outstanding customer service."
The Company will continue to work closely with stakeholders while focusing on promoting internet freedom and digital rights.
About Sandvine
Sandvine, the App QoE company, offers a portfolio that helps service providers deliver high quality, optimized experiences to consumers and enterprises. Service providers around the world are dealing with the fact that the internet is going dark, due to more encryption in applications and transport protocols. The Sandvine portfolio classifies more than 95% of network traffic into applications, application categories, and content categories, providing QoE scores and persona-guided workflows that address business problems quickly and efficiently. To learn how Sandvine solutions empower service providers globally to analyze, optimize, and monetize application experiences, follow Sandvine on Facebook, LinkedIn, and Twitter.
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