St. Bernard Software Announces Acquisition Of Red Condor
Company enhances hybrid security offering and expands cloud-based service platform
August 4, 2010
PRESS RELEASE
San Diego, CA – August 4, 2010 – St. Bernard Software, Inc. (OTCBB:
SBSW), a leader in Web security appliances, today announced the acquisition of
substantially all assets of Red Condor Inc., the award-winning provider of fully
managed email security solutions.
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-touse,
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 (OTCBB: SBSW) markets its
solutions through a network of value added resellers, distributors, system
integrators, OEM partners and directly to end users. For more information about
St. Bernard Software, visit www.stbernard.com.
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 longterm
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
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