Empire sells 144,870 shares of Tumbleweed Communications

By Lisa Kerner

Charlotte, N.C., Sept. 2 - Tumbleweed Communications Inc. investors led by Empire Capital Management, LLC sold 144,870 shares of the company's stock, reducing their stake to 8.4%.

The shares were sold between Aug. 22 and Aug. 29 for a total of $358,175.50, or an average per-share price of $2.47, it was reported in a schedule 13D filing with the Securities and Exchange Commission.

Empire sold 2 million shares on Aug. 20 for a total of $4.83 million.

In June, Sopra Group SA, a Paris-based internet technology consulting company, announced that its subsidiary, Axway, would acquire all the outstanding stock of Tumbleweed for $2.70 cash per share, or a reported $138 million.

Empire and its affiliates beneficially own 4,469,024 shares of the Redwood City, Calif., messaging security solutions company.

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