Q9 Shareholders approve plan of arrangement



    TORONTO, Oct. 10 /CNW/ - Q9 Networks Inc. ("Q9") (TSX: Q) announced today
that its shareholders approved the proposed plan of arrangement pursuant to
which an affiliate of ABRY Partners, LLC ("ABRY"), will purchase all of the
outstanding common shares (other than those owned by ABRY or its affiliates)
of Q9, at a price of C$17.05 per common share in cash.
    At the special meeting of shareholders held today, shareholders holding
82.18% of the Company's outstanding common shares voted and the transaction
was approved by 99.99% of the votes cast by all holders of common shares, and
99.99% of the votes cast by all holders of common shares other than 
Osama Arafat, Chief Executive Officer of Q9, and Paul Sharpe, President and
Chief Operating Officer of Q9.
    The final Court hearing in respect of the transaction is scheduled to be
held on October 15, 2008. It is anticipated that the transaction will be
completed by November 21, 2008, which is the outside date under the terms of
the acquisition agreement.

    Forward Looking Statements

    This media release includes certain forward-looking statements within the
meaning of applicable securities laws relating to the proposal to acquire all
of the outstanding shares of Q9. Any statements contained herein that are not
statements of historical facts may be deemed to be forward-looking statements.
The completion of the proposed transaction is subject to a number of terms and
conditions, including, without limitation: (i) necessary court approvals, and
(ii) certain termination rights available to the parties under the acquisition
agreement. These approvals may not be obtained, the other conditions to the
transaction may not be satisfied in accordance with their terms, and/or the
parties to the acquisition agreement may exercise their termination rights, in
which case the proposed transaction could be modified, restructured or
terminated, as applicable.
    Readers are cautioned not to place undue reliance on forward-looking
statements. Actual results and developments may differ materially from those
contemplated by these statements depending on, among other things, the risks
that the parties will not proceed with a transaction, that the ultimate terms
of the transaction will differ from those that are currently contemplated, and
that the transaction will not be successfully completed for any reason
(including the failure to obtain any required approvals). Q9 does not intend,
and disclaims any obligation, except as required by law, to update or revise
any forward-looking statements whether as a result of new information, future
events or otherwise.

    About Q9 Networks

    Q9 Networks is a leading Canadian provider of outsourced data centre
infrastructure for organizations with mission-critical IT operations. Q9's
data centres and network are backed by an industry leading SLA which
guarantees 100 per cent network and power availability. Q9 managed services,
including: bandwidth, dedicated servers, firewalls, load balancing, virtual
private networking (VPN) and back-up/restore, enable the rapid provisioning
and scalability of client infrastructure.

    About ABRY

    Based in Boston, Massachusetts, ABRY Partners enjoys a position as one of
the most experienced and successful media and communications focused private
equity investment firms in North America. Since 1989, ABRY Partners has
completed over $21 billion of leveraged transactions and other private equity
and mezzanine investments, representing investments in more than 500 media and
communications properties. Extensive and long-standing relationships with many
different stakeholders in the media, communications and finance businesses
allow ABRY Partners to contribute significant value to operating partners and
portfolio companies. ABRY Partners has extensive experience in data centre
space through its existing U.S. data centre portfolio companies CyrusOne and
Hosted Solutions. More information is available at www.abry.com.




For further information:

For further information: Kevin Spikes, Director of Corporate & Investor
Relations, Q9 Networks, Toronto: (416) 848-3311, Toll Free: 1-888-696-2266,
media.relations@Q9.com; www.Q9.com

Organization Profile

Q9 Networks Inc.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890