SSH Completes The Sale Of its OEM Business To Safenet

SSH Communications Security Corp (HEX: SSH1V) and SafeNet, Inc. (Nasdaq: SFNT), have signed today the final agreement concerning the sale of assets of SSH’s OEM Products group and VPN hardware businesses (“OEM Business”) to SafeNet.

The final purchase price of the OEM Business is USD 13.6 million, and the whole amount will be paid in cash. SSH’s OEM Business and 22 of SSH’s employees will transfer to SafeNet today. Out of these employees 16 are located in Finland and 6 are in the USA and Asia.

With the completion of this transaction, SSH will make a significant profit for the year 2003. Also, the company can fully focus on developing its core business based on the SSH Tectia(TM) product family launched earlier this year. This will strengthen SSH’s position as the leading provider of managed security middleware solutions to large enterprises, financial institutions, and government agencies.

Don't miss