F-Secure buys Steek to bulk up online storage
F-Secure, maker of anti-virus and anti-spyware software for internet security, has acquired Steek,
a provider of online storage and data management applications for
mobile operators. The deal will expand F-Secure’s portfolio of software
offerings, making it a more versatile choice for its customerbase, made
up mostly of mobile operators — it will also bring new operators into
its fold.
San Jose, Calif.-based F-Secure paid $38.4 million for France-based Steek
– but it may have to kick in $3.5 million more in 2010 if the acquired
business performs well for the company. F-Secure says the deal should
bump its revenue from $2.8 million to $4.2 million in the latter half
of the year.
Steek raised $8 million in a second round of funding last year from Innovacom and AGF Private Equity. Before that, it had raised about $4 million in 2006.
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About the Author, Camille Ricketts
Camille is the lead writer for GreenBeat. She came to VentureBeat from Google where she worked on its traditional platforms team, particularly in TV. Before that, she was a reporter for the Wall Street Journal in New York and London. Follow her on Twitter at @camillericketts, and follow VentureBeat on Twitter at @venturebeat.
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Jussi Laakkonen