Sandvine's Board Approves Plan for Stock Buyback Program

WATERLOO, ON, Jan. 22, 2013 /CNW/ - Sandvine Corporation (TSX: SVC) (AIM: SAND) ("Sandvine") today announced that its Board of Directors has approved the adoption of an open market stock buyback program for the purchase of up to approximately 12.5 million common shares ("Shares") over a one-year period, expected to commence in February, through a normal course issuer bid over the Toronto Stock Exchange.  The program is subject to obtaining requisite regulatory approvals.

The actual number of Shares purchased, the timing of purchases and the price at which the Shares are bought will depend upon future market conditions, and upon potential alternative uses for Sandvine's cash resources. Any purchases will be made by Sandvine at the prevailing market price of the Shares at the time of purchase.  As at January 21, 2013, Sandvine had 138,551,030 Shares issued and outstanding.

Sandvine also announced that it has entered into an automatic share purchase plan effective today with a broker in order to facilitate repurchases of its Shares under its existing normal course issuer bid which covers the period from February 1, 2012 to January 31, 2013.  Under Sandvine's automatic share purchase plan, Sandvine's broker may repurchase Shares under the normal course issuer bid at any time including without limitation when Sandvine would ordinarily not be permitted to repurchase Shares due to regulatory restrictions or self-imposed blackout periods.  Purchases will be made by Sandvine's broker based upon the parameters prescribed by the TSX and the terms of the parties' written agreement.  The automatic share purchase plan has been reviewed by the TSX.  Sandvine expects that it will enter into a similar automatic purchase plan under the new normal course issuer bid announced today, once the necessary approvals are in place to proceed with that program.

As of January 21, 2013, Sandvine has not made any purchases of Shares in the preceding 12 month period.

ABOUT SANDVINE
Sandvine's network policy control solutions add intelligence to fixed, mobile and converged communications service provider networks to enable services that can increase revenue and reduce network costs. Powered by Sandvine's Policy Engine and SandScript policy language, Sandvine's networking equipment provides end-to-end policy control functions including traffic classification, and policy decision and enforcement across the data, control and business planes.  Sandvine's products provide actionable business insight, the ability to deploy new subscriber services and tools to optimize traffic while enhancing subscriber Internet quality of experience.

Sandvine's network policy control solutions are deployed in more than 200 networks in over 85 countries, serving hundreds of millions of data subscribers worldwide, www.sandvine.com.

CAUTION REGARDING FORWARD-LOOKING INFORMATION
Certain statements contained in this news release constitute forward-looking information within the meaning of securities laws.

Forward-looking information may relate to our future outlook and anticipated events or results and, in some cases, can be identified by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts.

These statements are based on certain factors and assumptions including expected growth, results of operations, performance and business prospects and opportunities. While we consider these assumptions to be reasonable based on information currently available to us, they may prove to be incorrect.

Forward looking-information is also subject to certain factors, including risks and uncertainties, that could cause actual results to differ materially from what we currently expect. These factors include changes in market and competition, governmental or regulatory developments and general economic conditions. 

SOURCE: Sandvine Incorporated

INVESTOR RELATIONS CONTACT
Rick Wadsworth
Sandvine
[phone] ext. 3503
[email protected]

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