Brief: SSH: Further Funding For PrivX Development

SSH Communications Security Oyj

08/04/2020 12:32

April 8 (Reuters) - SSH Communications Security Oyj
 SSH1V.HE :
    * EU AND BUSINESS FINLAND HAVE AWARDED SSH.COM  FURTHER
FUNDING
FOR PRIVX® DEVELOPMENT
    * SSH.COM HAS BEEN AWARDED ROUGHLY EUR 750,000 IN
GRANT-BASED
FUNDING BY EUROPEAN UNION AND BUSINESS FINLAND FOR FURTHER
DEVELOPMENT OF PRIVX PRODUCT
    * FUNDING IS A PART OF EUROPEAN ECSEL JOINT UNDERTAKING
ESTABLISHED IN 2014
    * FUNDING WILL BE ACCOUNTED FOR AS A REDUCTION IN
CAPITALIZED
PRODUCT DEVELOPMENT COSTS AND RECOGNIZED BY WAY OF REDUCED
DEPRECIATIONS
    * PORTION OF FUNDING WILL BE RECOGNIZED UNDER OTHER
OPERATING
INCOME FROM 2020 TO 2022 IN PROPORTION WITH INCURRED COSTS
    * SSH.COM ESTIMATES THAT FUNDING WILL COMMENCE DURING
Q3/2020

Source text for Eikon:  ID:nGNE8hpvcM 
Further company coverage:  SSH1V.HE 

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