F-Secure Corporation, stock exchange release, 25 February 2015, 9:15 (EET)
F-Secure, a global leader in online security and privacy, has completed the previously announced transaction of selling its personal cloud business to Synchronoss Technologies, Inc. (NASDAQ: SNCR). The companies have also agreed on certain intellectual property and patent rights.
The value of the transaction is USD 60 million in cash. The transaction's overall impact on F-Secure's operating profit due to discontinued operations is estimated to be close to EUR 20 million positive with the current exchange rate. The sale was announced on February 4, 2015.
Sold personal cloud business consists of F-Secure's younited, a cloud storage service for consumers and companies to securely store and share photos, movies, documents and other files. The transferred service will continue uninterrupted, and both companies have agreed upon a transition plan for customers and partners.
Additional information:
Christian Fredrikson, President and CEO, tel. +358 9 2520 0700
Taneli Virtanen, CFO, tel. +358 9 2520 5655