Capexit Accepts phion Tender Offer from Barracuda

Capexit, a shareholder of phion AG, has announced an agreement to sell its stake in the IT security company to Barracuda Networks Inc. A public tender offer was made by Barracuda on August 22 and accepted in mid September. The deal has Barracuda purchasing all phion shares from Capexit, which would amount to roughly 8.21% of the company, if it is also able to acquire 75% of phion AG. The price of €16 per share, which was accepted by more than the needed 75% of shareholders, would put the total price tag of the acquisition at €1.05 million.

phion AG (www.phion.com)
phion AG is an Austrian IT and communications security firm based in Innsbruck. The company’s technologies provide protection for corporate networks, web applications, and business communications systems on a variety of different platforms.

Turnover for the firm was listed at €11.78 million for 2008, earned from more than 1,000 corporate clients around the world. phion AG employs 90 people at offices in Innsbruck, Zürich, Vienna, Munich, Düsseldorf, Milan, London, Amsterdam, and Dubai.