The move leaves the combined company, which will continue to operate as St Bernard Software, free to pursue its US and international growth plans. As revealed in CRN last month, St Bernard Software is gearing up for an Initial Public Offering, and intends to grow its customer base from 8,000 to 30,000 (CRN, 14 July).
The company will also focus on advancing new product development and pursue what it labels ‘targeted strategic acquisitions’.
John Jones, chief executive of St Bernard Software, said in a statement: “We are confident that this merger will increase our competitive advantage while enhancing our relationships with customers and partners.
“We remain committed to offering SME customers high-value security solutions, and look forward to continued success.”
Once the loose ends of the merger are tied up, Vincent Rossi will join St Bernard as president and chief operating officer. John Jones will retain the chief executive position and Humphrey Polanen, chief executive of Sand Hill, will serve as chairman of the Board of St Bernard.
Polanen said in a statement: “St Bernard now has a stronger balance sheet to match its security business that focuses on the SME market. With a subscription-based business model creating a recurring revenue stream, the company will have increased revenue visibility beyond that of a traditional software company with a licensing model.”
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