BakBone Announces Shareholder and Court Approval

BakBone Software Incorporated today announced that BakBone’s shareholders overwhelmingly approved the acquisition by Quest Software, Inc. of all the outstanding securities of BakBone at a special meeting of shareholders held on January 11, 2010. The transaction was approved by 88% of the votes cast by the shareholders, voting together as a single class, and 81% of the votes cast by the common shareholders, excluding the votes cast by certain common shareholders.

Following the shareholders’ meeting, the Court of Queen’s Bench of Alberta approved the transaction. Pending the satisfaction of other customary closing conditions, Quest Software, Inc. is expected to complete the acquisition of all of the issued and outstanding shares of BakBone for $0.33 per common share and $1.29 per preferred share and BakBone will become a wholly-owned subsidiary of Quest.