• Leader in test and measurement solutions for telecom, wireless and cable networks.
• Publicly traded (OTC: SRTI) with FY08 revenue of ~$80M.
• Products Protocol Division is known for protocol analyzer solutions and more recently gained worldwide recognition as the dominant monitoring and troubleshooting platform for advanced telecom environments.
• Complicated by a recent unsuccessful attempt to sell the company (using other advisors), international location of division (headquarters in the U.S. and division located in Italy) and an economy in a state of recession.

Objective

Retained as exclusive advisor to manage the sale of the Products Protocol Division.

Activities

• Performed initial due diligence and valuation work to identify potential deal issues and set valuation expectations.
• Developed company positioning and materials to support sale process, and highlight the company’s strengths.
• Contacted 150+ worldwide potential strategic and financial buyers and solicited proposals.

• Created environment with multiple competing offers.
• Negotiated and closed cross-border transaction in December 2008.
• Successful sale to LTE Innovations, a leading OSS consulting firm to the telecommunications industry and a portfolio company of CapMan, a major Nordic private equity firm.