Values the business sold, which is in essence, the same business NVTL is is at about .55 PSR. Based on that valuation, NVTL is still way under valued. Calc $350 million in sales X .5=$175 divided by 33 million shares gets you conservatively $5+/share. Add the cash on the balance sheet and you can value NVTL at around $6.50.
To be fair, SWIR's business is stronger than NVTL's and you could argue NTGR may be a more aggressive competitor as SWIR and NVTL had a duopoly. Still, even discounting by 50%, the deal values NVTL's business at $2.50 not counting the value of the balance sheet.
One could also argue, NTGR has done their homework and would not buy the business unless they saw long-term value. Bottom line, it makes NVTL at buy under $2.00.