Online security firm F-Secure is buying storage management startup Steek for EUR27.5m (USD38.7m), with the possibility of a further performance-based payment of up to EUR2.5m (USD3.5m) next year.
Steek manages online multimedia data storage, file sharing, and automated backup solutions for individuals and businesses. It already has partnerships with several white-label mobile operators including Virgin Media in the UK, SFR in France and SingTel in Singapore. It claims more than 2.2m active users, and saw revenues of EUR2.5m (USD3.5m) in 2008.
F-Secure intends to use Steek's network of contacts to sell its Software as a Service (SaaS) technology packages through operators. It forecasts that the acquisition will bring in between EUR2m (USD2.8m) and EUR3m (USD4.2m) during the remainder of 2009.
StrategyEye's related categories: Online Storage, Security, Mobile Operators - General
StrategyEye's related companies: Virgin Media, F-Secure Corporation, SingTel, SFR
