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St. Bernard Software (SBSW.OB) Announces Acquisition of Red Condor

|Includes: St. Bernard Software, Inc. (SBSW)

St. Bernard Software Inc. is a leader in web security appliances. It is recognized for delivering today’s #1 web filtering and security appliance, iPrism. The company today announced the acquisition of substantially all assets of Red Condor Inc., the award-winning provider of fully managed email security solutions.

Red Condor is widely recognized for its email spam filtering solutions. The company’s solutions have garnered numerous industry awards and most recently proved to outperform competitive spam filters in an independent test of email filter accuracy by Miercom. The report confirmed that Red Condor had the highest block rate, zero false-positives and only one misclassified message for every 1,970 messages received during the one week test.

The acquisition builds upon the success of St. Bernard’s existing hybrid platform, which has served the small business market through a combination of high-performance appliances, software and hosted security solutions. With the web security market expected to grow to $2.3 billion by 2012, and the protection of leading applications such as email and messaging remaining a concern, the acquisition of Red Condor’s managed security solutions is a natural extension of St. Bernard’s product portfolio and business strategy.

As a result of the acquisition, St. Bernard will gain over 1,900 new customers as well as Red Condor’s extensive Internet and messaging service provider’s partner network. The company’s newly enhanced hybrid platform will allow it to extend new and unique value to subscribers of these previously underserved markets with a full suite of easy-to-use, cost-effective and scalable security solutions.

The president and CEO of St. Bernard, Lou Ryan, commented on the deal. He said, “With the integration of Red Condor’s carrier-grade technology and platform, we are perfectly positioned to accelerate our growth engine and work with an increasing and diversified base of customers across multiple security solutions.”

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