F-Secure Corporation today agreed to acquire privately-held Modera Point Oy of Oulu, Finland. Modera Point develops solutions on new mobile platforms. The employees of Modera Point will form F-Secure’s new Wireless Security Competence Center.
This
acquisition strengthens F-Secure’s strategy of extending its
leading security architectures into the wireless space. F-Secure will
gain approximately 20 developers trained and proficient in the EPOC
operating environment.
Under
the terms of the contract, 141,493 shares of F-Secure stock (with a
corresponding value of EUR 10.6 million, based on March 31st
closing price) will be exchanged for all outstanding shares of
Modera
was founded in 1982. The Company’s headquarters are in Oulu,
Finland, and the Company has a subsidiary, Modera Point Inc., in San
Jose, California. These two companies employ 24 employees. Modera
Point will form the kernel of the new F-Secure Wireless Competence
Center. Modera Point’s CEO, Mr Jari Still, will lead the team
that will be a part of F-Secure’s Research and Development unit.
Modera
Point.
F-Secure Corporation
Risto Siilasmaa
President and CEO
Additional information:
F-Secure Corporation
Risto
Siilasmaa, President and CEO
tel.358 9 2520 5510
Jukka Kotovirta, Director
tel.358 9 2520 5542
.