GlobeNewswire

SSH COMMUNICATIONS SECURITY CORPORATION’S SUBSIDIARY KYBERLEIJONA ACQUIRES DELTAGON, A COMPANY SPECIALIZING IN SECURE MESSAGING

Share

SSH Communications Security Corporation, stock exchange release, January 29, 2021, 1225 EET

SSH COMMUNICATIONS SECURITY CORPORATION’S SUBSIDIARY KYBERLEIJONA ACQUIRES DELTAGON, A COMPANY SPECIALIZING IN SECURE MESSAGING

SSH Communications Security Corporation’s subsidiary Kyberleijona Oy has agreed to acquire all shares of Deltagon Oy from Leijonaverkot Oy, a subsidiary of Suomen Erillisverkot Oy.

Background of the acquisition

The acquisition strengthens SSH’s position as a provider of secure networking and messaging solutions that safeguard key national cybersecurity interests and offer security-critical networking, encryption, and other solutions to the public sector in a coordinated manner. The acquisition also supports SSH’s aim to build a core national cybersecurity and cryptography competence center around its NQX business.

After closing, Deltagon becomes a subsidiary of Kyberleijona and part of the SSH group. SSH will consolidate Deltagon in its accounts as a subsidiary.

The acquisition is expected to close during the first half of 2021, subject to regulatory approvals and fulfillment of customary closing conditions.

Acquisition price and structure

The total acquisition price is approximately EUR 15.4 million. The cash flow impact of the acquisition price to SSH is EUR 10 million over the next four years.

The parties have also agreed on an earnout payment of no more than EUR 1.3 million, subject to certain conditions being fulfilled in the three year period after the acquisition.

About Deltagon

Deltagon Oy develops and sells secure messaging and transaction solutions to various industries, including finance and the public sector. A majority of Deltagon’s revenue is generated from the secure email messaging solution Sec@GW which is certified by the National Cyber Security Authority at the Finnish Transport and Communications Agency (NCSA-FI) for protecting classified information according to Finnish national (FI) ST III and ST IV security requirements.

The revenue of Deltagon Oy is estimated to be approximately EUR 4.7 million in 2020. Operating profit adjusted for calculatory intra-group service charges is estimated to be approximately EUR 2.5 million. The company has no debt apart from customary accounts payable and deferred liabilities items.

Deltagon’s business is primarily subscription-based, creating stable free cashflow. Because of the relatively small capitalization base, the free cashflow correlates closely with operating profit.

Deltagon’s revenue has grown steadily over the long term. The average growth for the past seven years has been 16 percent per annum, and the growth is expected to continue robustly.

Deltagon sells its solutions primarily through its partner network, which currently generates most of the revenue growth. Deltagon has more than 1,800 customers and several million end users globally. Deltagon has offices in Finland, Sweden, and Norway. The company has 26 employees.

A good strategic fit, synergy benefits, and increasing shareholder value

The Deltagon acquisition complements SSH’s product and services portfolio and creates synergies in product development, developing future quantum resistance, and leveraging international sales and marketing channels.

SSH is an international software and solution provider and Kyberleijona Oy is its subsidiary that helps secure national interests with both software and services according to the needs of the public sector. The acquisition strengthens SSH’s position as a provider of critical security solutions to the public sector and helps make SSH a strong key player in providing total solutions for secure communications from email communications and file sharing all the way to super-secure quantum-proof NQX network encryption.

With the acquisition, the SSH group gains new, profitably growing business with a strong position in the domestic messaging security market, new international business, and a wide customer base.

SSH’s CEO, Dr. Teemu Tunkelo, comments:

”This acquisition strengthens SSH’s product portfolio and helps us provide world-class total solutions for our customers to fulfill their critical cybersecurity needs. Deltagon’s Sec@GW product is a natural extension of our encryption product family, and the acquisition gives us access to further interesting products with international growth potential. I wish the entire Deltagon staff warmly welcome as a part of our high-quality cybersecurity software development and deployment team.”

The CEO of Suomen Erillisverkot Oy, Mr. Timo Lehtimäki comments:

”This transaction supports our aim of guaranteeing secure, stable, and continuously improving communications and IT services in all circumstances for the public sector and safety-critical actors. SSH is a strong global company that can both satisfy domestic needs and grow the Deltagon business internationally. Furthermore, we have already worked together with SSH since 2018 with the Kyberleijona joint venture.”

SSH’s CFO and manager of the encryption business line, Mr. Niklas Nordström, comments:

”The acquisition helps SSH become a one-stop-shop for encryption solutions for our customers, creating an excellent base for future growth. Deltagon’s customer retention is excellent, which also attests to the high quality of the products.”

The acquisition of Deltagon complements SSH’s strategy of moving towards a subscription-based business model. This makes the business more predictable as the relative importance of the more volatile license sales decreases. After the transaction, approximately 70 percent of the revenue of the SSH group will come from recurring maintenance charges and recurring subscription revenue, and this proportion is expected to grow further in line with our strategy.

SSH will consolidate Deltagon into its balance sheet after the expected closing of the transaction during the first half of 2021. The acquisition is estimated to accelerate the revenue growth of SSH, and it is also estimated to improve significantly SSH’s operating profit and profit.

The acquisition is not expected to cause significant one-time integration costs or investments.

Deltagon key figures

The key figures presented below are based on non-audited accounts of the Deltagon business. They have been prepared in accordance with the Finnish Accounting Act and the FAS standard. They have not been adjusted for IFRS.

Revenue and operating profit figures for the year 2020 are based on estimates.

During the fiscal year 2019, the Deltagon business was consolidated into the Leijonaverkot Oy group balance sheet, and it did not carry a balance sheet of its own. The 2020 balance sheet figures presented are based on the balance sheet of Deltagon Oy, which was carved out from Leijonaverkot Oy at the beginning of 2021. These balance sheet items may change slightly, depending on the time of consolidation.              

20192020
estimate
Revenue (EUR millions)4.344.69
Adjusted operating profit (EUR millions)2.272.50
Equity (EUR millions)-1.55
Liquid assets and receivables (EUR millions)-1.96
Short term payables and other debt (EUR millions)-0.42

A conference call on the acquisition will be organized for media, analysts, and investors on Tuesday, February 2 at 1000 EET. An invitation to the conference call will be issued separately.


SSH COMMUNICATIONS SECURITY CORPORATION


Teemu Tunkelo
CEO


For further information, please contact:

Teemu Tunkelo, CEO, tel. +358 40 5499605
Niklas Nordström, CFO, tel. +358 50 5410543

Distribution:
NASDAQ OMX Helsinki Ltd.
Major media
www.ssh.com


About SSH.COM
SSH.COM helps organizations access, secure, and control their digital core – their critical data, applications, and services. We have over 3,000 customers worldwide, including 40 percent of Fortune 500 companies, many of the world's largest financial institutions, and major organizations in all verticals. We are committed to helping our customers thrive in the cloud era with solutions that offer secure access with zero inertia, zero friction, and zero credentials risk. SSH.COM sells online; through offices in North America, Europe, and Asia; and through a global network of certified partners. The company's shares (SSH1V) are quoted on the NASDAQ Helsinki. For more information, visit www.ssh.com.


About GlobeNewswire

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

https://globenewswire.com

GlobeNewswire 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

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

Latest releases from GlobeNewswire

Mandalay Resources Corporation tillkännager resultatrapporten för fjärde kvartalet och helåret 202027.2.2021 08:53:04 CETPressemelding

TORONTO, Feb. 27, 2021 (GLOBE NEWSWIRE) -- Mandalay Resources Corporation (”Mandalay” eller ”bolaget”) (TSX: MND, OTCQB: MNDJF) är glada över att tillkännage resultatrapporten för fjärde kvartalet och helåret som slutade den 31 december 2020. Bolagets konsoliderade finansiella resultat för året som slutade 31 december 2020, tillsammans med ledningens diskussion och analys (”MD&A”) för motsvarande period, finns tillgängliga under bolagets profil på www.sedar.com och på bolagets webbplats www.mandalayresources.com. Alla valutor i detta pressmeddelande avser US-dollar om inget annat är angivet. Höjdpunkter för fjärde kvartalet 2020: Intäkter på 45,3 miljoner USD;Justerad EBITDA på 25,3 miljoner USD, tredje högsta kvartalsresultatet i bolagets historia;Konsoliderat nettoresultat på 14,7 miljoner USD eller 0,16 USD per aktie; ochJusterat nettoresultat på 12,1 miljoner USD eller 0,13 USD per aktie. Höjdpunkter för helåret 2020: Intäkter på 179,0 miljoner USD, högsta helårsresultatet sedan 20

Annual financial report 202027.2.2021 08:00:00 CETPress release

FINANCIERE DE TUBIZE SA/NV Allée de la Recherche 60, 1070 Brussels Contact: Anne Sophie Pijcke, directeur, aspijcke@financiere-tubize.be Annual financial report 2020 Regulated information 27 February 2021 The board of directors of Financière de Tubize has established the 2020 annual financial report. This report is available on the website www.financiere-tubize.be Dividend received from UCB: € 84,4 million (against € 82.4 million in 2019) Profit of € 81,0 million (against € 80.0 million in 2019)Decrease of outstanding debt from € 86.5 million at 31 December 2019 to € 33,5 million at 31 December 2020. If the general shareholders meeting of 30 April 2021 approves the 2020 annual accounts, including the proposed result appropriation, a dividend of € 0,68 will be payable as from 6th of May 2021 onwards at the offices, seats and branches of BNP Paribas Fortis, in exchange of coupon n° 16. Ex-dividend 4 May 2021 Record date 4 May 2021 Payment date 6 May 2021 In addition, the company Other Lo

Roche SARS-CoV-2 Rapid Antigen Test receives special approval for at-home patient self-testing using nasal swabs in Germany26.2.2021 18:30:00 CETPress release

Special approval from German Federal Institute for Drugs and Medical Devices (BfArM) enables home use of a SARS-CoV-2 Rapid Antigen Test using a simple nasal swabThe test will be widely available in pharmacies across Germany Basel, 26 February 2021 - Roche (SIX: RO, ROG; OTCQX: RHHBY) today announced it has been granted special approval by the German Federal Institute for Drugs and Medical Devices (BfArM) to offer the SARS-CoV-2 Rapid Antigen Test using a simple nasal swab for patient self-testing in Germany. The test is a reliable rapid test for the qualitative detection of a specific SARS-CoV-2 antigen in nasal swab samples.This rapid antigen test collects the sample from the front area of the nose instead of the nasopharynx, resulting in a simplified and more comfortable sampling procedure. By following simple instructions, patients can perform the test at home with results ready after only 15 minutes. The test will be made available in pharmacies and requires no prescription. The G

Cargotec Corporation: Share Repurchase 26.2.202126.2.2021 17:40:00 CETPress release

CARGOTEC CORPORATIONANNOUNCEMENT26.2.2021CARGOTEC CORPORATION: SHARE REPURCHASE 26.2.2021In the Helsinki Stock ExchangeTrade date26.2.2021Bourse tradeBuyShareCGCBVAmount40,362SharesAverage price/ share43.7441EURTotal cost1,765,599.36EURCargotec Corporation now holds a total of 300 531 sharesincluding the shares repurchased on 26.2.2021On behalf of Cargotec CorporationNordea Bank OyjJanne SarvikiviSami HuttunenFor further information, please contact:Mikko Puolakka, Executive Vice President and CFOtel. +358 20 777 4105Hanna-Maria Heikkinen, Vice President, Investor Relationstel. +358 20 777 4084www.cargotec.fi Attachment CGCBV_26.2_trades

Leasinvest Real Estate SCA sells the semi-industrial part of the Brixton Business Park in Zaventem26.2.2021 17:40:00 CETPress release

Today the deed has been executed regarding the sale of the semi-industrial part of the Brixton Business Park in Zaventem, as already announced in the latest press release regarding the 2020 annual results. The buyer is an affiliate of Exeter Property Group. Knight Frank acted as the broker in this transaction. The Brixton Business Park comprises 5 semi-industrial buildings with a total area of 18,788 sqm. This divestment is fully in line with the strategy of Leasinvest, which is aimed at selling non-strategic properties and focusing on new sustainable projects. The current favorable market situation enabled a successful sale of this type of property. This divestment also has favorable financial effects: not only does the debt ratio now reduce to the targeted level of less than 55%, the realized capital gain on this transaction has also allowed Leasinvest to expedite the reimbursement of part of our derivatives portfolio, thus further reducing the average financing cost following the ea

Incap Corporation: THE BOARD OF DIRECTORS OF INCAP HAS RESOLVED ON PAYING A PART OF THE PURCHASE PRICE PAYABLE TO THE SELLERS OF AWS ELECTRONICS GROUP IN NEW SHARES OF INCAP CORPORATION26.2.2021 16:30:00 CETPress release

INCAP CORPORATION STOCK EXCHANGE RELEASE 26 February 2021 at 5.30 p.m. (EET) THE PURCHASE OF AWS ELECTRONICS GROUP Incap Corporation (the “Company” or “Incap”) announced on 23 January 2020 that it has signed an agreement to acquire the entire share capital of AWS Electronics Group (“AWS”). The group has been included in Incap Group’s reporting as of 23 January 2020. The debt-free purchase price was 13.5 million pounds (then approximately EUR 15.9 million), and the additional purchase price amounted to EUR 0.6 million. The acquisition was financed with a loan of EUR 13 million and paid in cash, with the exception of an instalment of 0.6 million pounds to be paid in Incap shares. A PART OF THE PURCHASE PRICE The Board of Directors of the Company has on 26 February 2021 resolved, that the sellers of AWS will be paid an equivalent of 600,000 pounds in new shares of the Company in a directed share issue with payment (the “Share Issue”). The Share Issue will be consummated on 26 February 202

CONDITIONS FOR RIKSBANK REVERSED AUCTIONS SEK COVERED BONDS26.2.2021 16:20:00 CETPress release

Bid procedure, 2021-03-04BondsSWEDBANK HYPOTEK AB: 196. SE0015244991. 2026-03-18 STADSHYPOTEK AB: 1591, SE0013882644, 2026-06-01 SWEDISH COVERED BOND: 147, SE0009383664, 2026-06-17 SKANDINAVISKA ENSKILDA: 576, SE0010049841, 2023-12-20 LANSFORSAKRINGAR HYPOTEK: 519, SE0012324341, 2026-09-16 DANSKE HYPOTEK AB: 2512, SE0013877214, 2025-12-17 NORDEA HYPOTEK AB: 5534, SE0012230415, 2024-09-18 Bid date2021-03-04Bid times09.00-10.00 (CET/CEST) on the Bid dateRequested volume (corresponding nominal amount)196: 800 mln SEK +/-400 mln SEK 1591: 2000 mln SEK +/-1000 mln SEK 147: 700 mln SEK +/-350 mln SEK 576: 700 mln SEK +/-350 mln SEK 519: 600 mln SEK +/-300 mln SEK 2512: 200 mln SEK +/-100 mln SEK 5534: 1000 mln SEK +/-500 mln SEK Highest permitted bid volume (corresponding nominal amount)196: 800 mln SEK per bid 1591: 2000 mln SEK per bid 147: 700 mln SEK per bid 576: 700 mln SEK per bid 519: 600 mln SEK per bid 2512: 200 mln SEK per bid 5534: 1000 mln SEK per bid Lowest permitted bid volume