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As part of the agreement the companies will cooperate to jointly sell best-of-breed personal cloud and security services to operators
HELSINKI, FINLAND – February 4, 2015 — /BackupReview.info/ — F-Secure has agreed to sell its personal cloud business, younited, to Synchronoss, a leader in cloud services and software-based activation serving communications service providers across the globe. The value of the transaction is USD 60 million in cash. The deal will allow F-Secure, in an age of ever-increasing cyberattacks, to refocus its efforts on its core business of cloud-based security and privacy.
As part of the agreement, F-Secure and Synchronoss will partner to sell best-of-breed personal cloud and security services to mobile carriers and fixed line operators. Synchronoss will be able to integrate and sell F-Secure security products as part of its personal cloud offering, giving F-Secure the opportunity to sell its security and privacy products to even more leading operators around the globe. F-Secure and Synchronoss together serve close to 100% of the world’s largest operators in both North and South America as well as in Europe and Asia Pacific. The two companies’ combined addressable consumer market exceeds 3.5 billion subscribers.
F-Secure’s younited provides cloud services for consumers and companies to securely store and share photos, videos, documents and other digital content online. “Our personal cloud service has been successful and is a fascinating area. But as the world experiences more and more sophisticated cyberattacks, and as we become more connected through the Internet of Things, we see a real need to redouble our efforts in security,” says Christian Fredrikson, President and CEO of F-Secure. “Freedome, our one-button security and privacy app, is our fastest-growing consumer product and we’re excited about launching more such innovations to secure people’s lives and businesses with cutting-edge cloud-based technology.”
The closing of the acquisition agreement with Synchronoss is expected to happen by the end of February 2015.
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Founded in 1988, F-Secure is listed on NASDAQ OMX Helsinki Ltd.
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Similar news is published by Synchronoss, pasted below:
Synchronoss Technologies to Acquire F-Secure Personal Cloud Assets
Acquisition will bolster Synchronoss as the worldwide de facto standard and market leader in providing Personal Cloud solutions to Operators
BRIDGEWATER, NJ – Feb. 4, 2015 — /BackupReview.info/ – Synchronoss Technologies, Inc. (NASDAQ:SNCR), the leader in mobile cloud innovation and software-based activation for mobile carriers, retailers and OEMs around the world, today announced that it has entered into an agreement to acquire personal cloud assets from F-Secure Corporation. With this acquisition, and combined with Synchronoss’ current global footprint, Synchronoss will now service over 75 Mobile Operators, including nine Tier One Global Providers. These Mobile Operators will offer Synchronoss direct access to over 3.5 Billion subscribers around the world for its personal cloud platform.
In consideration for the acquisition, Synchronoss will pay approximately $60 million USD in cash to F-Secure and the deal is expected to close by the end of the first quarter of fiscal 2015. F-Secure is an online security and privacy company that offers millions of people around the globe the power to safely surf, store and share information via the internet.
As part of the agreement, Synchronoss will also have the ability to integrate and sell F-Secure products as part of its Personal Cloud offering, which will offer operators and subscribers a more secure and safe cloud, significantly enhancing the value thatSynchronoss can deliver to its customers.
“The success of our Personal Cloud platform is particularly powerful because we are not only helping mobile operators drive better-than-expected adoption that is enabling the cloud to be a core part of their communication offerings, but the momentum is changing towards better-than-expected engagement, creating additional monetization opportunities for both Synchronossand the Mobile Operator,” said Stephen Waldis, founder, chairman and chief executive officer of Synchronoss. “With our current rapid adoption of hundreds of thousands of subscribers per week globally, and a direct addressable market of 3.5 Billion subscribers, we are in the early stages of what we believe is a solid long term growth opportunity.”
The Synchronoss Personal Cloud™ enables mobile telecommunications operators to offer customers a branded mobile cloud solution that delivers a world-class customer experience, new revenue opportunities and bottom line growth by reducing churn.
Synchronoss expects the acquisition will be neutral to slightly accretive, on a non-GAAP basis, to its full year 2015 financial results. Non-GAAP results exclude stock-based compensation expense, amortization of intangibles associated with acquisitions, non-recurring professional fees associated with closing acquisitions and the purchase accounting reduction to deferred revenue associated with acquired companies. The company will provide details of its fourth quarter financial results, as well as guidance for the first quarter and full year 2015, on its fourth quarter and full year 2014 earnings call, scheduled for8:30 a.m. (ET) on Thursday, February 5, 2015.
About Synchronoss Technologies, Inc.
The Synchronoss logo, Synchronoss, and Synchronoss Personal Cloud are trademarks of Synchronoss Technologies, Inc. All other trademarks are property of their respective owners
Source: Synchronoss Technologies, Inc.
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