Barracuda Snubbed After Increasing Bid to Acquire Sourcefire
Barracuda Networks was rebuffed in its efforts to acquire Columbia-based Sourcefire Inc. after increasing its bid to $8.25 per share in cash.

Barracuda Networks, of Campbell, Calif., first made its proposal to Sourcefire in a confidential letter to Sourcefire Chairman Joseph R. Chinnici on June 9. The letter also repeated invitations to engage in discussions that would help Barracuda Networks understand where additional value might be found that could enable Barracuda Networks to further increase its proposed price.

Sourcefire declined Barracuda Networks’ June 9 proposal in a letter dated June 18, shortly following Sourcefire’s announcement that John Burris would replace Wayne Jackson as the company’s CEO.

The letter stated that the Sourcefire board believes the Barracuda Networks proposal is not in the best interest of Sourcefire and its stockholders and that the “board is confident that Mr. Burris will build upon our strategic plans to take Sourcefire to the next level to maximize stockholder value.”

“Sourcefire is uniquely positioned to drive the future of network security,” said Joseph Chinnici, non-executive chairman of the Sourcefire board of directors. “Our incoming CEO, John Burris, is a leader who possesses the skills and experience to build on Sourcefire’s strong momentum, strengthen our position as an industry-leading enterprise security company and continue to deliver value for our shareholders.”

Sagentia Opens U.S. Headquarters in Maple Lawn
Global technology company Sagentia has opened its U.S. headquarters in Maple Lawn. From its new state-of-the-art facility, the company will provide breakthrough technology management and product development services to its entire North American client base.
 
The 21-year-old company, headquartered in the city of Cambridge in the United Kingdom, has been publicly traded in the U.K. for eight years. Sagentia is part of the original “Cambridge Phenomenon,” which gave birth to a cluster of high tech companies in the 1980s.

The innovation base is part of Sagentia’s strategy to make its technology consulting and product development services more readily available to the medical, health and wellness industries, as well as continuing to provide full support to the other core sectors in which it operates.

“The new location provides Sagentia easy access to potential and existing clients, including The John Hopkins University Applied Physics Lab, the National Institutes of Health and the Food & Drug Administration,” said company President Paul Fearis. “In addition, the office will enable Sagentia to host offsite and onsite meetings and workshops, providing even more of the creativity and clarity of purpose it has become known for.”

O’Malley Cuts More Than $75 Million From State Budget
Gov. Martin O’Malley has announced more than $75 million in fiscal 2009 budget reductions and cost containment measures, including the elimination of 11-1/2 state workforce positions, to help mitigate the revenue loss from the repeal of the sales tax on computer services.

The governor’s proposal brings the total reductions during the O’Malley-Brown Administration to almost $1.9 billion and the total of positions eliminated to 736.

“In our first 16 months in office, we have been able to restore fiscal responsibility to our state, while making our state government more efficient. We remain committed to expanding economic opportunities for Maryland’s families and small businesses and protecting our most valuable asset — our workforce,” said O’Malley.

During the 2008 legislative session, the General Assembly directed the governor to present at least $50 million of fiscal 2009 general fund reductions to the Board of Public Works by July 1.

O’Malley Unveils Health Insurance Partnership for Small Business
 Gov. Martin O’Malley has announced steps that Maryland is taking to expand health insurance coverage for more working families and small businesses.

In coordination with the Maryland Department of Health and Mental Hygiene (DHMH), Maryland Health Care Commission (MHCC) participating insurance carriers, and advocates, the state will be working to enroll members in the Health Insurance Partnership, a premium subsidy program for small businesses.

During the General Assembly’s Special Session of 2007, O’Malley was joined by leaders of the Maryland General Assembly to support the enactment of the Working Families & Small Business Health Coverage Act. The act calls for the creation of a subsidy that would encourage more small employers to offer health insurance to their employees and expands Medicaid to cover parents with incomes up to $20,500 for a family of three, 116% of the federal poverty level.

This expansion is called Medical Assistance to Families. Applications and additional information are available at the department’s web site, www.dhmh.state.md.us.

Under the partnership, a small business that has two to nine full-time employees, has not offered health insurance to its employees during the previous 12 months and has an average wage below $50,000 is eligible to receive a subsidy of up to 50% of the premium. The total subsidy is divided between the employer and the employee based on the contribution each makes toward the cost of coverage. More information is available at http://mhcc.maryland.gov/partnership.

Anne Arundel County Earns Rebate
Anne Arundel County recently earned a $154,196.84 rebate through the Office of Central Services Procurement Card (pCard) Program, in accordance with the provisions of its contract with US Bank. This rebate represents a 51% increase from last year’s $102,042.79 rebate.

The county’s rebate is based on three contractual components: total annual spend, transaction size and client held days. This year, the county’s total pCard spending for the period of May 1, 2007, through April 30, 2008, was $18,098,221, up 28% from last year’s total spending of $14,133,350.

The average transaction amount was $287, up 21% from last year’s $237, and the client held days (time to process the monthly invoice) was three days down from last year’s six days. The pCard Program total spending of $18,098,221 represents approximately 6% of the almost $300 million annual purchasing activity in 2007.

Osiris Therapeutics Announces $2 Million Milestone Payment
Columbia-based Osiris Therapeutics has achieved $2 million in milestone payments from the Juvenile Diabetes Research Foundation (JDRF) for progress made on a Phase II clinical trial evaluating Prochymal, a mesenchymal stem cell (MSC) therapy, for patients recently diagnosed with type 1 diabetes. The payments were triggered when Osiris accomplished certain clinical and regulatory milestones including initiating patient treatments.

“Due to the long-term effects of type 1 diabetes, there is a critical need to develop more effective therapies,” said Jay Skyler, M.D., professor of medicine and associate director of the Diabetes Research Institute at the University of Miami. “Our ultimate goal with this research is to develop a treatment that we could give a patient at the onset to safely halt progression of the disease and preserve enough islet cell function to avoid the need for insulin administration altogether.”

AirTran Airways Announces New Service From BWI to San Juan
AirTran Airways will add nonstop flights between BWI Thurgood Marshall Airport and San Juan Luis Munoz Marin International Airport beginning Dec. 20.

Additionally, the low-fare airline will offer a second daily flight between Orlando and San Juan beginning Nov. 2 and a second daily flight between Atlanta and San Juan beginning Dec. 18. All flights to San Juan will be served with the airline’s Boeing 737-700 aircraft, part of America’s youngest all-Boeing fleet.

County Solicits Public Comment on Interim Transit Report
Howard County is undertaking a comprehensive assessment of its local bus service, Howard Transit, with the objective of developing recommendations for service expansions and capital improvements.

A consultant’s interim report is available at www.howardcountymd.gov under the “What’s New …” section. Printed copies will also be available starting Thursday, July 3, at all Howard County libraries, senior centers and the Department of Planning & Zoning public reception desk at 3430 Court House Drive in Ellicott City.

The county has invited the public to submit comments regarding these findings and options to Fred Fravel of KFH Group at ffravel@kfhgroup.com. The next Public Transportation Board meeting will be held on Tuesday, July 22, at 7 p.m., at the above address.

Added materials will be available for review on the county web site on Tuesday, July 15. The public will then have 60 days in which to provide comments and recommendations.

Mark Aug. 4 for the 20th MDA Sleep Inn & Comfort Inn Open
Monday, Aug. 4, is the date for the 20th Anniversary Muscular Dystrophy Association (MDA) Sleep Inn & Comfort Inn at Queenstown Harbor in Queenstown (which is located at the split of routes 50 and 301 on the Eastern Shore).

Hosted by local hotel industry veterans Lou Zagarino and Cliff Wietstruk, the event reached a milestone last year when the organizers presented a check at the 2007 MDA Labor Day telethon. That donation made the total from the 19 years of tournaments to just more than $500,000.

For more information on the upcoming event, call Amy Atanat at the MDA at 410-494-7106 or e-mail baltimoredistrict@mdausa.org or lou_zagarino@bwilodging.com.