Saab acquires Barracuda Technologies
Saab acquires Barracuda Technologies Saab is acquiring all shares in Barracuda Technologies AB from Hägglunds Barracuda Technologies develops, produces and markets products and services which through signature matching provide protection against discovery and identification. The company, with customers and representation in some 40 countries, is world-leader in the industry. Barracuda Technologies is based in Gamleby, with subsidiaries in Australia, Canada, France and India, and a total of 100 employees. The acquisition price is SEK 70 m. "The acquisition brings essential protection technology to the Saab Group, thereby strengthening our position in this field" says Per Erlandsson, Saab. The acquisition of Barracuda Technologies is part of an increasingly sharper refocusing within the Saab Group, the aim of which is to create a tightly knit group of companies. "Having Saab as our new owner provides us with the opportunity for global collaboration both technologically and commercially, which contributes significantly to the next stage of our development. The merger also ensures that unique expertise remains in Sweden," says Göte Nilsson, President of Barracuda Technologies. Saab operates primarily in the aviation, space and defense industries, and offers advanced products and systems based on sophisticated information technology. The company has a turnover of approximately SEK 8 billion, and some 8,000 employees. The acquisition is subject to the approval of the Swedish competition authorities. For further information, please contact: Per Erlandsson, Senior Vice President, Corporate Legal Department, Saab AB +46 13 18 71 90 Lars Jagerfelt, Vice President, Corporate Communications and Public Affairs, Saab AB +46 13 18 71 65 Göte Nilsson, President, Barracuda Technologies AB +46 493 148 12 Bibbi Johansson, PR manager, Barracuda Technologies AB+46 493 148 11 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/07/02/19990702BIT00140/bit0001.pdf http://www.bit.se/bitonline/1999/07/02/19990702BIT00140/bit0002.doc