F-Secure reports revenues up by 16% in the first half of 2009 and the acquisition of its partner Steek, a rare feat in these financially trying times. With the acquisition, F-Secure’s Value Added Service portfolio to operators is now unrivalled.

Helsinki, Finland – July 28, 2009: F-Secure today announced its financial results for the first half of 2009. Total revenues were at a record 62.3 million euros, showing an increase of 16% from the first half of 2008. Earnings before interest and taxes were 14.1 million euros, which is up 32% from the same period the previous year, solid growth figures in the current economic climate.

In addition, the acquisition of Steek, a leading European software provider for online storage and data management solutions to fixed line and mobile operators in July allows F-Secure to provide operators with a full range of Value Added Services that they in turn can offer their customers. This Software as a Service (SaaS) business model has been a strong growth driver for F-Secure since the year 2000.

F-Secure has pioneered the model in the field of IT security with its network of over 200 operator partners, the largest of its kind in the industry, and is now extending its offering to the fields of data storage and sharing.Kimmo Alkio, CEO of F-Secure said: “The Software as a Service business model delivers great value to our customers and partners. Even in this time of economic uncertainty, the SaaS model is gaining momentum. As proof of this, we saw our operator business in grow by almost a third, it was up 29% from the first half of 2008.”

Based on its experience in the SaaS business model, F-Secure anticipates that both the customer benefits (e.g. lower total cost of ownership) and attractive partner business benefits (e.g. lifetime revenue share) will accelerate the adoption of the model compared to traditional acquisition of software as a product. The consolidation of Steek’s online storage, backup and sharing technology strongly supports F-Secure’s pursuit of driving innovation and growth for Internet-related services.

“By bringing the Steek technology and operator partnerships into F-Secure, we are further strengthening our competitive position in the SaaS markets. The rapidly developing online storage market gives us great opportunity to accelerate our operator revenue growth. Our target is to be the leader in providing security and related value-added services to consumers through operators. With our latest acquisition, we are well on our way,” Kimmo Alkio stated.
 
For the full F- financial results for the first half of 2009, please go to:  http://www.f-secure.com/en_EMEA/about-us/investor-relations/stock-exchange-releases/2009/