SSH Communications Security Corporation enters into a Patent License Agreement
SSH Communications Security Corporation ("SSH") has entered into a patent license agreement with one of the leading providers of patent risk management solutions ("Provider"). As a part of the agreement, SSH will receive a one-time payment of 2,000,000 USD (approximately 1,750,000 EUR) for the patent license.
The patent license granted to the Provider´s member companies focuses on SSH patents filed before 2010, including e.g. the so-called NAT Traversal patent family. Other terms of the agreement are confidential.
“This patent license agreement is a win-win proposition for all parties”, said Mr. Erkki Yli-Juuti, SSH's VP Intellectual Property. “The Provider's member network can continue using the licensed technology, and SSH gets a fair compensation for its intellectual property without having to resort to costly and time-consuming litigation.”
According to the agreements between SSH and Clausal Computing Ltd., as reported in SSH's Annual Report 2015 (Related Party Transactions), SSH will pay to Clausal Computing Ltd. 440,000 USD (approximately 385,000 EUR) of the license revenue as a royalty fee. Therefore, SSH's share of this patent license payment is 1,560,000 USD (approximately 1,365,000 EUR). This will be fully recognized in SSH's Q4 2018 result.
SSH COMMUNICATIONS SECURITY CORPORATION
Kaisa Olkkonen
CEO
For further information, please contact:
Kaisa Olkkonen, CEO, tel. +358 40 5795216
Distribution:
Nasdaq Helsinki Oy
Major media
www.ssh.com
SSH Communications Security:
SSH.COM helps organizations access, secure and control their digital core – their critical data, applications and services. We have over 3,000 customers around the world, including 40 percent of Fortune 500 companies, many of the world’s largest financial institutions, and major organizations in all verticals. We are committed to helping our customers thrive in the cloud era with solutions that offer secure access with zero inertia, zero friction and zero credentials risk. SSH.COM sells online; through offices in North America, Europe and Asia; and through a global network of certified partners. The company’s shares (SSH1V) are quoted on the NASDAQ Helsinki. For more information, visit www.ssh.com.