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2009-05-20 13:20:00 CEST 2009-05-20 13:20:41 CEST REGULATED INFORMATION Stonesoft - Company AnnouncementTEKES FUNDING FOR STONESOFT'S RESEARCH AND DEVELOPMENT PROJECTSTONESOFT CORPORATION STOCK EXCHANGE RELEASE 20 MAY 2009 AT 2:20 P.M. TEKES FUNDING FOR STONESOFT'S RESEARCH AND DEVELOPMENT PROJECT Tekes, the Finnish Funding Agency for Technology and Innovation, has decided to fund Stonesoft Corporation's research and development project "The protection of fast networks of critical infrastructure" with more than a million euros. The funding is allocated over three years so that the majority is granted for the years 2009 and 2010."This research and development project ensures that the performance of Stonesoft's products will meet the requirements of the most demanding environments also in the future. We are very pleased with the funding decision of Tekes, because the granted funding considerably accelerates the completion of the project. We believe that this acceleration will clearly improve the competitiveness of our products", says Ilkka Hiidenheimo, the CEO of Stonesoft. The decision of Tekes was based on, among other, the following grounds: the Stonesoft project has substantial and broad impact on the development of know-how that brings competitiveness compared to the funding required by Tekes. The project has significant novelty value and is highly challenging in international framework. We believe that the granted funding together with the present cost savings program will help the company to reach its target of improved profitability set for 2009. For further information: Ilkka Hiidenheimo, CEO, Stonesoft Corporation Tel. (09) 476 711 E-mail: ilkka.hiidenheimo@stonesoft.comStonesoft Corporation Ilkka Hiidenheimo, CEO Distribution: NASDAQ OMX Helsinki Ltd Main media www.stonesoft.com |
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