Francisco Partners Ends Ownership of Crisis-Plagued Sandvine
- Sandvine also continues mass layoffs as difficulties add up
- US said it acted contrary to national security interests
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US private equity firm Francisco Partners said it’s no longer the owner of troubled technology vendor Sandvine, which was blacklisted by the US government earlier this year for supplying mass surveillance and censorship technology.
Sandvine has been in a state of upheaval since late February, when the US Commerce Department placed it on a blacklist for providing “mass web-monitoring and censorship” technology to the Egyptian government. The company, originally founded in Canada, was acquired by San Francisco-based Francisco Partners and combined with Procera Networks in 2017, in a deal worth $444 million.