F-Secure dumps cloud service in £40m sale


F-Secure has announced the sale of its personal cloud business, younited, to the cloud company Synchronoss, as it seeks to refocus on cybersecurity.

The security vendor will gain $60m (£39.5m) out of the deal which is expected to complete later this month, with both buyer and seller also set to partner to sell cloud and security services to phone operators.

F-Secure claims that combined with Synchronoss it can serve almost every mobile and fixed-line operator in the Americas, Europe and Asia Pacific, markets that contain 3.5 billion phone customers.

Christian Fredrikson, president and CEO of F-Secure, said: "Our personal cloud service has been successful and is a fascinating area. But as the world experiences more and more sophisticated cyber-attacks, and as we become more connected through the Internet of Things, we see a real need to redouble our efforts in security."

"Freedome, our one-button security and privacy app, is our fastest-growing consumer product and we’re excited about launching more such innovations to secure people’s lives and businesses with cutting-edge cloud-based technology."

The sale’s impact on F-Secure’s operating profit for 2015 is thought to be around $22.9m (£15m) positive, bearing in mind current exchange rates.

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