PROCERA NETWORKS SHAREHOLDER ALERT – National Securities Law Firm Seeks Higher Price for Procera Shareholders in Connection with its Acquisition, and Encourages Shareholders to Contact Law Firm for More Information

April 22, 2015
New York, New York

Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating the acquisition of Procera Networks, Inc. (NASDAQ: PKT) (“Procera” or the “Company”) on behalf of its shareholders. Procera announced that it has signed a definitive agreement to be acquired by private funds managed by Francisco Partners Management, L.P., a private equity firm, in an all-cash transaction valued at approximately $240 million. Under the terms of the definitive agreement, Francisco Partners will commence a tender offer to acquire all outstanding shares of Procera’s common stock for $11.50 per share in cash.

Our investigation has determined that the offer price of only $11.50 per share unfairly under-values the true going forward inherent value of Procera and that shareholders are not receiving the maximum value for their shares. Indeed, among other things, the Company has over $102 million of cash on its balance sheet or $5.08 per share in cash, and no long term debt. The book value per share of the Company is $6.35 per share, and an analyst has projected that the price of the stock is worth at least $12 per share. The investigation further seeks to determine whether the senior management of Procera are entering into this deal for their own self-interests to the detriment of the Company’s shareholders.

If you are a shareholder of Procera and would like additional information as to how the acquisition may affect your rights as a shareholder, and how you may be eligible to obtain a higher price for your shares, please contact us toll free at 1-800-906-6432 or contact us via our website.

Tripp Levy PLLC represents individual and institutional shareholders in mergers and acquisitions transactions and, along with its affiliate, has recovered billions of dollars for shareholders in securities actions around the globe. Tripp Levy PLLC is affiliated with the law firm Milberg LLP. The National Law Journal has named Milberg one of the “50 Elite Trial Lawyer Firms” and one of the “50 Leading Plaintiff Firms in America.” Attorney advertising. Prior results do not indicate a similar outcome.