The U.S. firm, formerly headquartered in Waterloo, Ont., has completed a months-long restructuring process after filing for bankruptcy protection last November. The company was blacklisted by the U.S. in February 2024 for allegedly selling its technology to authoritarian governments. It has since agreed to exit non-democratic markets and will exclusively sell software. (The Logic)
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The U.S. firm, formerly headquartered in Waterloo, Ont., has completed a months-long restructuring process after filing for bankruptcy protection last November. The company was blacklisted by the U.S. in February 2024 for allegedly selling its technology to authoritarian governments. It has since agreed to exit non-democratic markets and will exclusively sell software. (The Logic)
Talking point: The rebrand caps a tumultuous year for the company, which monitors and manages computer networks. Sandvine was removed from the government’s entity list in October, after pledging to pull out of non-democratic markets. By then, however, its revenue had plummeted and it was on brink of bankruptcy. In June, a group of undisclosed shareholders took control of Sandvine from U.S. private equity firm Francisco Partners, and the company has appointed former chief operating officer Mark Driedger—who’s based in Texas—as CEO.
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