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April 11, 2005

Ibas buys Vogon for forensics

Ibas, the data recovery subsidiary of anti-virus company Norman Data Defense Systems which last year was floated on the Oslo Stock Exchange, has taken over a competitor in the shape of UK-based Vogon International.

By CBR Staff Writer

The move makes the combined business the European market leader for data recovery and computer forensics, the company claimed of the deal which specifies a minimum price of around $7.5m to a ceiling of $17m.

Privately-owned Vogon, which has 80 staff and had sales last year of around $11m, is a specialist in computer forensics, data recovery and conversion, which is seen as being complementary to the expertise Ibas has in data recovery and erasure.

The company said that the deal is to be financed by free cash, a $4.75m rights issue and loans.

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