SAN DIEGO, CA--(Marketwire - August 4, 2010) - St. Bernard Software, Inc. (
The acquisition builds upon the success of St. Bernard's existing hybrid platform, which has served the SME 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 primary concern across global enterprises of all sizes, the acquisition of Red Condor's managed security solutions is a natural extension of St. Bernard's product portfolio and business strategy.
"This acquisition milestone is a truly exciting time for both St. Bernard and Red Condor as it creates great opportunities for growth with our shared hybrid security vision," said Lou Ryan, President and CEO at St. Bernard. "The strategic match we have found in Red Condor establishes greater breadth and depth in our hosted, hybrid and on-premises options and increases the overall value to our customers and partners. 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."
As a result of the acquisition, St. Bernard will gain over 1,900 new customers as well as Red Condor's extensive ISP and MSP partner network. St. Bernard's enhanced hybrid platform allows the company 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.
"Red Condor is widely recognized for the simplicity and scalability of its unique hybrid offerings," continued Ryan. "The Red Condor platform and the vision behind it, dovetail perfectly with St. Bernard's primary technology offering and reinforces our key attributes of value, simplicity, and performance."
Founded in 2004, Red Condor has approximately 35 employees and is headquartered in Rohnert Park , California. The company's hosted and hybrid email spam filtering solutions have garnered numerous industry awards and recognition, and most recently proved to outperform competitive spam filters in an independent test of email filter accuracy by Miercom. The report not only validated Red Condor's hybrid technology offering, but also confirmed that the company 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 complete results can be found at http://www.redcondor.com/resources/downloads/072710.miercom-report-rc.pdf
For a complete description of the terms and conditions of this acquisition, please refer to the Form 8-K issued by the Company and filed with the SEC on August 3, 2010.
For further information on St. Bernard Software and its complete suite of security products, please visit www.stbernard.com. Additional information on Red Condor can be found at www.redcondor.com.
About St. Bernard Software
St. Bernard Software develops and markets Internet security appliances and services that empower IT professionals to effectively, efficiently and intelligently manage their enterprise's Internet-based resources. Originally founded in 1995 as a market-leader in data security with its flagship product, Open File Manager™, the company is now recognized for delivering today's #1 Web filtering and security appliance, iPrism®. With millions of end users worldwide in more than 5,000 enterprises, educational institutions, SMB, and government agencies, St. Bernard strives to deliver simple, high performance solutions that offer excellent value to our customers.
Based in San Diego, California, St. Bernard (
About Red Condor
Red Condor is revolutionizing spam fighting with its next generation technology. Red Condor's highly accurate email filter, hybrid architecture Vx Technology™, and fully managed appliances lead to a dramatic reduction in the cost of owning a premium spam filter. With solutions for small business, as well as ISPs with millions of email inboxes, Red Condor has a cost-effective, timesaving solution that is rapidly gaining market share. The system's design has built-in zero tolerance for lost email, and a near zero false positive rate while achieving long-term spam block rates greater than 99%. Red Condor Archive is a secure message archiving service with lifetime retention and unlimited storage. The company's next-generation technology is backed by a 24x7 customer care center staffed by email security experts at Red Condor's headquarters. For more information visit www.redcondor.com.
©2010 St. Bernard Software Inc. All rights reserved. The St. Bernard Software logo, iPrism, iGuard, the Red Condor Logo, and Vx Technology are trademarks of St. Bernard Software Inc. All other trademarks and registered trademarks are hereby acknowledged.
This press release may contain forward-looking statements that involve risks and uncertainties, as well as assumptions that, if they prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including, among other things, any statements of the plans, strategies, and objectives of management for future operations; any statements concerning proposed new products, services, or developments; any statements about the expected growth of the web security market in 2012, statements about expected opportunities for growth and acceleration for growth and the increase in overall value to customers and vendors expected as a result of the acquisition, statements of belief and any statement of assumptions underlying any of the foregoing. The risks, uncertainties and assumptions referred to above include, among other things, St. Bernard's ability to retain any of the 1900 customers acquired as part of the acquisition, the ability to effectively merge the operation of Red Condor with that of St. Bernard and the ability to retain the assets acquired, performance of contracts by customers and partners; employee management issues; the timely development, production and acceptance of products and services and their feature sets; the challenge of managing asset levels, including inventory; the flow of products into third-party distribution channels; and the difficulty of keeping expense growth at modest levels while increasing revenues. These and other risks and factors that could cause events or our results to differ from those expressed or implied by such forward-looking statements are described in our most recent annual report on Form 10-K, as well as other subsequent filings with the Securities and Exchange Commission. We assume no obligation and do not intend to update these forward-looking statements.
Contact Information:
Media contact:
Lorrie Hunsaker
St. Bernard Software
(858) 524-2041