Strategic investments will have an impact on
profitability
Espoo, Finland - September 25, 2000
F-Secure Online Solutions, a premier wholesale
provider of managed security services and a wholly
owned subsidiary of F-Secure Corporation, today
announced a global cooperation agreement with
KPNQwest [Nasdaq & AEX: KQIP] to utilize KPNQwest's
infrastructure to deploy managed security services.
F-Secure Online Solutions' will use KPNQwest's
CyberCentres throughout Europe to offer managed
security services to be rolled out over the course
of the next year, with a view to expand F-Secure
Online Solutions' operations to cover North America
and Asia-Pacific.
F-Secure Online Solutions and KPNQwest are exploring
opportunities to jointly develop and deploy services
bundling security solutions with KPNQwest's portfolio
of value-added Internet services delivered over its
fibre-optic network.
F-Secure Online Solutions' managed security services
are based on F-Secure's award-winning security
applications. The solutions offering covers initially
four security services and will be extended in the
future.
As a result of a high interest in F-Secure Online
Solutions' services in the marketplace F-Secure Group
sees an opportunity to rapidly gain market share by
aggressively pushing the F-Secure Online Solutions
services to its core geographical markets. To enable
this, F-Secure Group prepares to make the necessary
investments.
Combined with other investment opportunities, especially in the wireless space, F-Secure Group may pursue, the Group no longer considers it reasonable to commit to reaching profitability during the fourth quarter of 2000. This view has already been widely accepted by financial analysts covering F-Secure. However, through increasing sales, profitability will improve in the fourth quarter from the previous quarters.
The investments in F-Secure Online Solutions are expected to further increase F-Secure Group's revenues in 2001 and beyond, and the Group believes it will be profitable for the year 2001.
F-Secure Online Solutions will present its operational plans to the press and financial analysts today at 14.00 Finnish Time in Marina Congress Centre, Katajanokanlaituri 6, Helsinki. Senior executives from KPNQwest will also be present.
F-Secure Corporation
Risto Siilasmaa
Additional information:
President, CEO
F-Secure Corporation
Risto Siilasmaa, President and CEO tel.358 9 2520 5510
Jukka Kotovirta, Director tel.358 9 2520 5542
Kimmo Alkio, CEO, F-Secure Online Solutions tel.358 9 251 6600