0MKQ Ssh Communications Security Oyj

 
TIDMSSH1V 
 
 
 
 
   SSH Communications Security Corporation, stock exchange release, 4 June 
2019 at 09:00 am EEST 
 
   SSH COMMUNICATIONS SECURITY CORPORATION ANNOUNCES ITS SSH200 GROWTH 
VISION 
 
   The company's new SSH200 growth vision aims at over 200 million euros in 
long term annual revenue in the identity and access management market 
 
   SSH.COM's Board of Directors has approved the company's new SSH200 
growth vision, which aims at over 200 million euro annual revenue in the 
identity and access management market during the 2020s. 
 
   The SSH200 vision describes SSH.COM's long-term growth ambitions. The 
growth vision is based on systematic long-term activities, and results 
will start showing over time. The growth vision does not affect our 
published guidance, which remains unchanged. 
 
   Foundations of the Vision 
 
   Underlying the SSH200 vision is how digital transformation, adoption of 
cloud services, the erosion of digital borders, and growing 
cybersecurity threats are driving the growth of the cybersecurity market 
and in particular how they drive major enterprises to integrate identity 
management, access management, cloud security, and underlying platform 
security to be more agile and resilient. 
 
   Our view is that these new challenges will require a more proactive 
security posture. Remote working, the explosion in the number of 
connected devices, changes in business models, and the use of multiple 
cloud services are eroding borders and pushing organizations towards a 
zero-trust architecture, where every access to every service is 
authenticated every time. Boundaries and reactive solutions are not 
sufficient. Solutions must be more agile, faster to deploy and integrate 
with other elements of enterprise information systems.  Security must be 
implemented on every layer, from networks to platforms to applications. 
 
   Focus on Intelligent Access Control 
 
   Our vision is that Intelligent Access Control will be a key focus area 
in enterprise security in the coming years. This is the segment where 
SSH.COM focuses on and where it aims to grow. 
 
   The research firm Market Research Future estimates the relevant market 
segment (Privileged Access Management) to grow to more than 5,000 
million euros by 2023 (>30% compound annual growth rate) with the growth 
continuing rapidly even afterward. According to, e.g., Gartner and IDC, 
the share of cloud-related solutions in this market will grow quickly. 
 
   The SSH200 vision and SSH Product Portfolio 
 
   SSH.COM's growth products PrivX(R) and Universal SSH Key Manager(R) 
(UKM) are both essential parts of this vision. 
 
   UKM helps organizations manage their platform-level access credentials 
and machine identities using SSH keys. It solves a major cyber hygiene 
issue that only the largest financials and a few other leading-edge 
companies have so far addressed. 
 
   We estimate that there are thousands of potential customers for SSH key 
management solutions with typical customer value ranging from a hundred 
thousand up to millions of euros.  Auditors have started putting more 
emphasis on SSH keys, which is accelerating the emergence of the market. 
The UKM solution is unique in that it provides full discovery of 
existing access connections inside the enterprise infrastructure. 
SSH.COM also holds by far the most substantial patent portfolio in this 
area, with 15 granted UKM-related patents and more applications pending, 
which will help us obtain and maintain a strong market position 
long-term and potentially get licensing revenues from other vendors. 
 
   PrivX is a modern approach to privileged access management and cloud 
access control. It helps customers focus on solving the access problem 
quickly, without costly infrastructure or extended deployment projects. 
It was designed from the beginning for cloud, multi-cloud, and hybrid 
environments and the zero-trust model. 
 
   The market for PrivX is very large; much of the privileged access market 
would benefit from the ease of deployment, multi-cloud and hybrid 
capabilities, lightweight infrastructure, scalability, reliability, and 
end-user convenience. Cloud service providers can use it to offer 
privileged access as a service, something traditional Privileged Access 
Management systems cannot readily do. Several patents and patent 
applications help SSH.COM maintain our unique advantages in this area. 
 
   PrivX also combines with UKM. While UKM brings existing legacy access 
under control, PrivX offers enterprises a strategic path forward for 
both key-based automated access and other privileged access and service 
provider access into their systems. The combination helps enterprises 
solve regulatory and audit challenges that no other solution adequately 
addresses. 
 
   Key Capabilities and Strategic Actions 
 
   In 2018, the company's Universal SSH Key Manager(R) and Tectia(R) SSH 
products brought the company strong cash flow and a profit of 
approximately 6 million euros. The healthy profitability of these 
products has, in part, enabled the company to invest nearly 20 million 
euros so far into its new products such as PrivX(R). 
 
   Overall, SSH.COM is well positioned to increase its market share in the 
identity and access management market, and especially in its 
fastest-growing cloud-related segment. We also benefit from the 
profitable base business around the SSH protocol and our unique position 
in the growing SSH key management area. 
 
   The company's SSH.COM web site now gets 470,000 monthly visitors 
according to Google Analytics (May 2019), significantly more than many 
much larger competitors. The company holds more than 50 patents, many of 
them on fundamental cybersecurity and cloud technologies. 
 
   As part of its growth vision, SSH.COM is exploring strategic actions to 
accelerate growth and increase shareholder value. These actions may 
include, for example, strategic alliances, sales and marketing 
co-operation, or other strategic or structural actions to maximize the 
success and value of the company's business. 
 
   Comments from the Board 
 
   SSH founder and Board member Tatu Ylönen comments: "SSH.COM has 
built foundational cybersecurity products since we launched in 1995 and 
our solutions and protocols are cornerstones of the secure Internet. 
Our growth vision is based on building better, easier, and more 
cost-effective solutions for customers. It is based on a strong, 
research-based vision of where the security market and customers' needs 
are going in the 2020s." 
 
   SSH.COM's Chairman of the Board Petri Kuivala adds: "The SSH200 vision 
describes our long-term growth ambitions and where we want to go and 
think we have the potential to reach. Achieving this goal requires 
systematic long-term work, and results will start showing gradually over 
time. The growth vision does not affect our published 2019 and 
medium-term guidance, which remains unchanged." 
 
   Further Information at Capital Markets Day 
 
   The company will tell investors more about its growth vision and the 
market in an analyst and investor event to be held on Monday, June 10, 
2019, at 9:00 am in Hotel Scandic Simonkenttä, Room Espa (Simonkatu 
9, Helsinki). 
 
   The invitation and registration instructions can be found here: 
https://blog.ssh.com/capital-markets-day-june-10. Attendees are kindly 
requested to register for the Capital Markers Day no later than June 5, 
2019. 
 
   SSH COMMUNICATIONS SECURITY CORPORATION 
 
   Kaisa Olkkonen 
 
   CEO 
 
   For further information, please contact: 
 
   Kaisa Olkkonen, CEO, tel. +358 40 5795216 
 
   Distribution: 
 
   Nasdaq Helsinki Oy 
 
   Major media 
 
   www.ssh.com 
 
   About SSH Communications Security 
 
   SSH.COM helps organizations access, secure, and control their digital 
core -- their critical data, applications, and services. We have over 
3,000 customers around the world, including 40 percent of Fortune 500 
companies, many of the world's largest financial institutions, and major 
organizations in all verticals. We are committed to helping our 
customers thrive in the cloud era with solutions that offer secure 
access with zero inertia, zero friction, and zero credentials risk. 
SSH.COM sells online; 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. 
 
 
 
 
 
 

(END) Dow Jones Newswires

June 04, 2019 02:02 ET (06:02 GMT)

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