Accendo Capital acquires further 12.7% of SSH Communications Security Corporation
Helsinki, Finland – June 3, 2020 – SSH Communications Security Corporation announced that SSH Founder Tatu Ylönen has yesterday sold 4.93 million shares in SSH to investment fund Accendo Capital SICAV, SIF. The amount corresponds to approximately 12.7% of the company’s total shares outstanding.
With this transaction, Accendo becomes the largest shareholder of SSH, with 29.2% of the company. Tatu Ylönen is now the second-largest shareholder of SSH after the sale with 18.0% of the company.
Accendo Capital is an investment fund focusing on creating shareholder value through active ownership in publicly listed Northern European companies that are driving, or benefiting from, technological innovation.
“This transaction is a logical continuation of the initial transaction on May 22, 2020, and it is aligned with our investment strategy. We seek significant minority positions and typically engage on the Board of Directors to create shareholder value with a long-term view,” said Henri Österlund, Founder and Senior Partner of Accendo Capital. “We strive to be a dedicated, entrepreneurial shareholder that improves portfolio companies’ strategic clarity, financial understanding, and interest alignment among owners, Board, and management."
“I plan to continue as a shareholder and board member at SSH and help the company build solid growth with its innovative products,” said SSH Founder Tatu Ylönen.
About SSH Communications Security Corporation
SSH helps organizations access, secure, and control their digital core – their critical data, applications, and services. SSH has over 3,000 customers worldwide, including 40 percent of Fortune 500 companies, many of the world's largest financial institutions, and major organizations in all verticals. SSH is committed to helping customers thrive in the cloud era with solutions that offer secure access with zero inertia, zero friction, and zero credentials risk. For more information, please visit www.ssh.com.
For more information:
SSH Communications Security Corporation
Teemu Tunkelo, CEO
tel. +358 40 5499605