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D.A. Davidson & Co. Acts as Exclusive Financial Advisor to SmartRG, Inc. in its Sale to ADTRAN, Inc.

December 6, 2018

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.