FRANCE - AGF PE and Innovacom sell Steek in EUR 27.5m deal

The deal also includes a performance re;ated earn out, which could see F-Secure pay a further EUR 2.5m by 2010. The transaction price will be paid in cash and financed with F-Secure Corporation's liquid assets.

Steek provides online storage and data management solutions to fixed line and mobile operators, which they can in turn offer their customers. Its operator partner network includes SFR (France), Virgin Media (UK), TDC (Denmark), Singtel (Singapore) and Terra (Spain), which collectively represents 2.2 million active users. Steek generated EUR 2.5m turnover in 2008, 300% up on the previous year, and recorded a net loss of EUR 0.7m.

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