D.A. Davidson & Co. Acts as Exclusive Financial Advisor to SmartRG, Inc. in its Sale to ADTRAN, Inc.
December 6, 2018
PORTLAND, Ore.–(BUSINESS WIRE)–#ADTRAN—D.A.
Davidson & Co. announced today that it has served as exclusive
financial advisor to SmartRG, Inc. in its sale to ADTRAN, Inc. (NASDAQ:
ADTN), a leading provider of next-generation open networking solutions.
Based in Vancouver, Wash., SmartRG is a long-standing industry leader
with expertise in open-source software development, as well as a
comprehensive portfolio of cloud-management, analytics, Wi-Fi-enabled
residential gateways, and its SmartOS software platform. The company
counts more than 3 million devices in service and over 1.3 million
devices under management in North America, the Caribbean and South
America.
“We are pleased to have been able to work with the D.A. Davidson
technology investment banking team on this transaction,” said Jeff
McInnis, CEO of SmartRG. “Their industry knowledge, buyer relationships,
and deep transaction expertise enabled the company and its shareholders
to achieve an optical outcome from this transaction.”
“Jeff and the rest of the SmartRG team have done a tremendous job
growing SmartRG into the leading connected home and cloud services
provider it is today,” said Brad Gevurtz, managing director at D.A.
Davidson. “This transaction provides SmartRG with the capital and
resources of ADTRAN to significantly accelerate innovation and execute
on its numerous growth initiatives.”
D.A.
Davidson’s investment banking division is a leading full-service
investment bank that offers comprehensive financial advisory and capital
markets expertise. The group has extensive transaction experience
serving middle market clients worldwide across five industry verticals:
consumer, diversified industrials, financial institutions, real estate
and technology.
Together with its European strategic partner, MCF Corporate Finance,
D.A. Davidson originates and executes transatlantic M&A transactions
under the common brand of D.A. Davidson MCF International.
About D.A. Davidson Companies
D.A. Davidson Companies is an employee-owned financial services firm
offering a range of financial services and advice to individuals,
corporations, institutions and municipalities nationwide. Founded in
Montana in 1935, with regional headquarters in Great Falls, Denver, Los
Angeles, Portland and Seattle, the company has approximately 1,350
employees and offices in 25 states coast to coast.
Subsidiaries include: D.A. Davidson & Co., the largest full-service
investment firm headquartered in the Northwest, providing wealth
management, investment banking, equity and fixed income capital markets
services and advice; Davidson Investment Advisors, a professional asset
management firm; D.A. Davidson Trust Company, a trust and wealth
management company; and Davidson Fixed Income Management, a registered
investment adviser providing fixed income portfolio and advisory
services.
For more information, visit dadavidson.com,
Twitter: @DADavidsonCo,
or LinkedIn: D.A.
Davidson Companies.
Contacts
Media Contacts:
Emily Roy
Prosek for D.A. Davidson
(646)
818-9232
eroy@prosek.com
or
Jacquie
Burchard
D.A. Davidson
Office: (406) 791-7465
Cell: (406)
868-1392
jburchard@dadco.com