SSH Communications Security enters into a patent cross license agreement with balancing payment to SSH

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| Source: SSH Communications Security Oyj
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Helsinki, Finland, 2017-12-06 08:20 CET (GLOBE NEWSWIRE) --  

SSH Communications Security enters into a patent cross license agreement with balancing payment to SSH

SSH Communications Security Corporation announces that it has entered into a patent cross license agreement with a global technology company including a one-time license fee payment of 2.1 M EUR paid to SSH.

According to the agreements between SSH and Clausal Computing Ltd., reported in the Annual Report 2015 (Related Party Transactions), SSH will pay to Clausal Computing Ltd. 462.000 EUR of the license revenue as a royalty fee. Therefore, SSH's share of this patent cross license agreement is 1.638.000 EUR. This will be visible in SSH Q4 2017 result.

“This first patent license agreement, we now signed is a key milestone in our patent licensing efforts”, said SSH VP, Intellectual Property Erkki Yli-Juuti. “We believe that this will have a positive impact on executing licensing agreements also with other companies”.

As disclosed earlier, SSH has pending patent litigations against Sony in Germany and UK. This new patent cross license agreement does not have any direct impact to those litigations. SSH has reported on the progress of these cases separately, and will continue this method by reporting on any significant developments, as soon as new information becomes available.


Helsinki, 6 December 2017

SSH Communications Security Corporation

Kaisa Olkkonen
CEO

For further information, please contact:
Kaisa Olkkonen, CEO, tel. +358 40 5795216


Distribution:
Nasdaq Helsinki Ltd.
Major media
www.ssh.com



About SSH Communications Security:
SSH Communications Security is a leading provider of enterprise cybersecurity solutions that monitor, control, and automate trusted access to critical data. The company’s long track record of innovation includes Secure Shell (SSH) - one of the world’s most widely used network security protocols. Customers worldwide trust our flagship Universal SSH Key Manager® and other solutions to manage access, while greatly reducing costs and compliance risks. The Company sells direct through offices in North America, Europe and Asia and through a global network of certified partners. The company’s shares (SSH1V) are quoted on the Nasdaq Helsinki. For more information, visit www.ssh.com.