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Procera Picks New Path

Publicly traded hardware vendor Procera Networks Inc. (OTC: PRNW) is exploring strategic alternatives” in an attempt to raise its profile within the networking space, the company announced today (see Procera Explores Strategic Alternatives).

The Campbell, Calif.-based vendor has been selling its OptimIP devices for less than a year, but is now looking for a leg up in a market dominated by the likes of Cisco Systems Inc. (Nasdaq: CSCO), Foundry Networks Inc. (Nasdaq: FDRY), Extreme Networks Inc. (Nasdaq: EXTR), and Juniper Networks Inc. (Nasdaq: JNPR).

Gary Johnson, Procera’s senior vice president of sales and marketing, told NDCF that the company is considering a wide variety of options. “We’re looking at all strategic alternatives,” he says. “We’re looking at merger, acquisition, and strategic investment.”

The fact that Procera has turned to investment bank Houlihan, Lokey, Howard & Zukin Inc. as its advisor underlines the vendor’s desire to woo potential partners. The bank is regarded as one of the leading M&A advisors in the U.S. and has recently worked on deals involving L’Oreal and Scottish Power.

Although he would not say whether Procera has had any offers, Johnson confirmed that the firm is looking for a partner with existing sales channels and customer credibility. “This will enhance our whole sales motion and add to our penetration significantly,” he says.

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