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[September 29, 2009]

Barracuda Networks secures over 75% of phion AG

Sep 29, 2009 (M2 EQUITYBITES via COMTEX) -- Austrian IT security solutions provider phion AG (WBAG:PHIO) reported on Friday that US firewall products supplier Barracuda Networks Inc has completed its purchase of a stake of more than 75% in the company.

On Wednesday phion said that shareholder Capexit Beteiligungs Invest MF-AG had accepted Barracuda's public tender offer and would sell its 65,695 shares in phion, representing 8.21%, subject to Barracuda acquiring at least 75% of the Austrian company.

Barracuda offered EUR16 for each phion share.

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