Wednesday, January 12, 2011

BakBone Gets Shareholder Approval On Acquisition

San Diego-based BakBone Software, a developer of backup software, reported today that the firm has received both shareholder and court approval for its acquisition by Quest Software. Bakbone said 88 percent of the votes cast by shareholders were in favor of the acquisition. In addition, BakBone said it has received approval from the Court of Queen's Bench of Alberta for the acquisition. The deal is worth approximately $55M, and was originally announced in November.