GlobeNewswire by notified

Inside information: WithSecure takes next steps in its strategic transformation that started with the partial demerger and becomes a partner channel and SaaS model focused cyber security vendor for mid-market

Share

WithSecure Corporation, Inside information, 31 October 2023 at 7:59 EET

Inside information: WithSecure takes next steps in its strategic transformation that started with the partial demerger and becomes a partner channel and SaaS model focused cyber security vendor for mid-market

The Board of Directors of WithSecure has approved an updated strategy for the company. The new strategy sharpens the company’s focus on serving mid-market customers with the Elements Cloud portfolio and scalable Co-security services through the partner channel. The company will maintain global presence but aims at strengthening its market position especially in Europe and Japan. WithSecure believes that the geopolitical uncertainty will drive a growing need for a European source of world class cyber security technology.

WithSecure plans to enable more independence to the business areas that focus on enterprise customers through direct sales:

  •      Cloud Protection for Salesforce (CPSF) business continues to operate as an independent unit and develop its unique cloud content protection solutions for large enterprises globally, including Fortune 500 companies
  •      WithSecure plans to establish its Cyber security consulting business as an independent unit serving large enterprise customers in US, Europe, and Asia, and continue to build a world-leading offensive security consultancy

WithSecure has initiated a process to explore strategic options, including full or partial divestment of one or both enterprise-focused businesses. Both businesses are considered as very strong assets with leading expertise and a strong global customer base.

“Mid-market is the growth driver of the economy. With the fast-evolving threat landscape and professionalization of cyber attacks in general, especially the small and medium sized companies struggle with managing cyber threats.

Value adding partners are the key to reaching these customers, and the updated strategy enables WithSecure to focus on and further develop its core differentiators:  Elements Cloud technology platform, Co-security services and the comprehensive partner approach the company is known for. 

Adding more Exposure Management capabilities to the Elements portfolio in 2024 and leveraging AI in our operations and offering will benefit our partners and customers even more in the future.

This update gives us a clear focus and a way forward – one that serves our purpose and mission, builds on our strengths, and paves the way towards a market position where we have more room to operate and win.” says President and CEO of WithSecure, Juhani Hintikka.

As a result of the updated strategy, the previously published medium-term financial targets are no longer valid. WithSecure will not publish new medium-term financial targets, due to the ongoing review of strategic options for the enterprise-focused units.

Contact information:

Laura Viita
VP, Controlling, investor relations and sustainability
WithSecure Corporation
+358 50 487 1044

investor-relations@withsecure.com

To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://notified.com

GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

The Saikyo Bank Partners with nCino to Enhance Operational Efficiency and Customer-Centric Services29.2.2024 00:00:00 CET | Press release

Japanese regional bank selects nCino to create a customer-driven mortgage lending experience by streamlining processes and systems onto a single platform TOKYO, Feb. 28, 2024 (GLOBE NEWSWIRE) -- nCino, Inc. (NASDAQ: NCNO), a pioneer in cloud banking for the global financial services industry, today announced that The Saikyo Bank, Ltd. (Saikyo), a $20B-asset regional bank in Japan, will implement nCino to improve operational efficiencies and customer convenience. Saikyo will start its single platform journey with nCino by introducing the technology to its mortgage operations. The adoption of nCino's platform aims to streamline Saikyo's mortgage business, from reception, screening, case management and electronic contracting to the execution of mortgage loan operations, allowing the Bank to improve efficiency and customer experience. Leveraging nCino's platform, the Bank will be able to increase the time that employees spend with customers by reducing administrative tasks, as well as prov

Change in the Board of Anoto28.2.2024 23:40:00 CET | Press release

Stockholm, 28 February 2024 – Anoto Group AB (publ) (“Anoto” or the “Company”) announces that Hans Haywood (former CEO of Anoto) and Pedro Pinto has requested their own resignation from the board of Anoto with immediate effect. Anoto board will still consist of Dennis Song as the chairman of the board and Injoon Chung, and is therefore not quorum until the EGM scheduled to be held on March 8, 2024 elects new board members. For further information contact: Dennis Song, Chairman of the Board For more information about Anoto, visit www.anoto.com or email ir@anoto.com Anoto Group AB (publ), Reg.No. 556532-3929, Flaggan 1165, 116 74 Stockholm About Anoto Group Anoto is a publicly held Swedish technology company known globally for innovation in the area of information-rich patterns and the optical recognition of those patterns. It is a leader in digital writing and drawing solutions, having historically used its proprietary technology to develop smartpens and related software. These smartpen

Förändringar i Anotos styrelse28.2.2024 23:40:00 CET | Pressemelding

Stockholm, 28 februari 2024 – Anoto Group AB (publ) ("Anoto" eller "Bolaget") meddelar att Hans Haywood (tidigare VD för Anoto) och Pedro Pinto har begärt eget utträde från styrelsen i Anoto med omedelbar verkan. Anotos styrelse kommer fortfarande att bestå av Dennis Song, som styrelsens ordförande, och Injoon Chung, och är därför inte beslutför förrän den extra bolagsstämma som planeras hållas den 8 mars 2024 väljer nya styrelseledamöter. För ytterligare information kontakta: Dennis Song, styrelseordförande för Anoto För mer information om Anoto, please visit www.anoto.com eller email ir@anoto.com Anoto Group AB (publ), Reg.No. 556532-3929, Flaggan 1165, 116 74 Stockholm Om Anoto Group Anoto är ett börsnoterat svenskt teknikföretag, som är känt i hela världen för innovationer rörande informationsrika mönster och optisk igenkänning av dessa mönster. Företaget är ledande när det gäller lösningar för digitalt skrivande och ritande, och har historiskt sett använt sin egenutvecklade teknol

Vow ASA: Full year and second half of 2023 results28.2.2024 23:11:51 CET | Press release

Oslo, 28 February 2024: Vow ASA (OSE: VOW) revenues for the full year 2023 were NOK 918.5 million, a 17 per cent increase from the year before. EBITDA before non-recurring items was negative NOK 23.4 million for the full year. In addition, the company recorded non-recurring items of negative NOK 31.3 million, mainly related to non-cash balance sheet clean-up in contract accruals. This resulted in a negative EBITDA for the year of NOK 54.7 million versus a positive NOK 85.5 million in 2022. “The year 2023 was a year of high activity and revenue. A large number of projects were successfully delivered. Activity in aftersales was increasing. We also secured important new contracts and moved into position for new projects in new industry verticals,” said Henrik Badin, CEO of Vow ASA. At the end of 2023, the order backlog was NOK 1 034 million and another NOK 921 million in options. The backlog and options are providing visibility for revenues and good margins well into 2025/26. “We have als

European Energy A/S: Notice to convene ordinary general meeting28.2.2024 23:08:42 CET | Press release

Company announcement 7/2024 (28.02.2024) The Board of Directors of the Company hereby convenes an ordinary general meeting of the Company, to be held on: Thursday 14 March 2024 at 09:30 CET at the address of the Company, Gyngemose Parkvej 50, 2860 Søborg, Denmark and electronically on Teams Agenda: Election of Chair of the Annual General Meeting.Report on the activities of the Company.Presentation of the annual report with the auditors’ report for approval and discharge of the Board of Directors and the Executive Board.Resolution on the appropriation of profit or treatment of loss according to the approved annual report.Election of members to the Board of Directors.Decision regarding remuneration to the Board of Directors for the financial year 2024. Amendments to the article of association.Election of Auditor(s).AOB. Attachment Notice to convene ordinary general meeting

HiddenA line styled icon from Orion Icon Library.Eye