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2012-12-20 09:55:00 CET 2012-12-20 09:55:33 CET REGULATED INFORMATION Stonesoft - Company AnnouncementStonesoft Oyj :STONESOFT SEGREGATES PART OF ITS SERVICE BUSINESS TO ITS SUBSIDIARYStonesoft Corporation Stock Exchange Release December 20, 2012 at 10:55 a.m. STONESOFT SEGREGATES PART OF ITS SERVICE BUSINESS TO ITS SUBSIDIARY Stonesoft segregates its post sales technical support by selling it to its newly founded, fully owned subsidiary Stonesoft Global Support Ltd. The new company will from now on perform the technical support services offered to Stonesoft's customers as a subcontractor. The contracts between Stonesoft and its customers remain unchanged. The support service business personnel will be transferred to the new company as old employees. The incorporation will not affect current customers' service level or contractual relations. In the long run the transaction enables a more flexible development of post sales technical support. Based on Stonesoft's understanding, it is likely that along with the geographical expansion the need to offer services in other languages than English will grow, which is likely to result in e.g. establishing additional service sites. This transaction supports the company's growth strategy. The internal transaction, the price of which has been set to MEUR 18.5, will be effective on December 31st, 2012. The price is based on external valuation of the fair price of the technical support business. The purchase price will remain as debt of Stonesoft Global Support Ltd to Stonesoft Corporation. The company has received an advance ruling from the Finnish tax authorities related to the tax handling of the case. Stonesoft Corporation Ilkka Hiidenheimo Chief Executive Officer For further information, please contact: CFO Mikael Nyberg, Stonesoft Corporation Tel.+358 9 4767 11 Distribution: NASDAQ OMX Helsinki Ltd www.stonesoft.com [HUG#1666576] |
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