F-Secure Oyj - Company Announcement

F-Secure Corporation to sell its Personal Cloud Business Operations to Synchronoss to strengthen its focus on Security

F-Secure Corporation stock exchange release 4.2.2015 11:40 (EET)

F-Secure, a leader in online security and privacy products, has today signed an
agreement to sell its personal cloud business operations to Synchronoss
Technologies, Inc. (NASDAQ: SNCR), the mobile innovation leader in personal
cloud solutions and software-based activation for connected devices. Sold
personal cloud business consists of F-Secure's younited, a cloud storage
services for consumers and companies to securely store and share photos,
movies, docs and other stuff online. The value of the transaction is USD 60
million in cash. Closing of the transaction is expected by the end of February.
The transaction's overall impact on F-Secure's operating profit in 2015 is
estimated be close to EUR 20 million positive with current exchange rate. 

The companies will also establish a partnership to sell best-of-breed security
services and personal cloud to mobile carriers and fixed line operators.
Together the two companies serve close to 100% of the world's largest operators
in both North and South America as well as in Europe and Asia Pacific. 

F-Secure sees substantial growth opportunities in cyber and cloud security
business. F-Secure will further increase its focus on developing new
cloud-based privacy and security products. The Company today protects tens of
millions of users from malware and, with its one-button privacy app Freedome,
has launched its fastest-growing consumer product. Based on its revised
strategy, the Company will also seek to expand its offering for the new
generation of connected devices (Internet of Things) and to provide protection
against cyber-attacks. 

The Company's financial guidance for 2015 is revised

In 2014, security revenues were EUR 137.4 million in total. In 2015, the
management estimates security revenues to grow slightly. Additionally,
approximately EUR 6 million in revenue is expected related to the transition
services due to the sale of the content cloud business. Profitability it
estimated to be around 15% of revenues (excluding the profit from the sale of
the personal cloud business). 

The original guidance given in Q4 Interim release was following: revenues are
estimated to remain at 2014 levels, profitability is estimated to be around 15%
of revenues. 

News conference today

An online meeting for international investors and analysts will be held (in
English) on the same day at 2.00 p.m. (EET). To participate in the online
meeting, click on the link below: 

https://meet.F-Secure.com/tapio.pesola/RVM2BPP6

To participate in the online meeting through phone, please dial in to
+358975110100. Conference ID is 6657805. 

The webinar will be organized through Lync to enable a better experience with
video and presentation while providing access to international investors and
analysts. If you have not used Lync before, you need to download and install
it. For more advice on how to use it, please visit 

https://support.office.com/en-in/article/Quick-Start-Use-Lync-2010-Attendee-3141
c2f5-ffac-42a8-a426-cff158dda27f 

It is possible to participate through the Lync web application, but please note
that you will also need call in to the meeting via phone to hear the audio. 


Additional information:

Christian Fredrikson, CEO Tel +358 9 2520 0700
Taneli Virtanen, CFO Tel. +358 9 2520 5655