TELESTE CORPORATION STOCK EXCHANGE RELEASE 18.12.2006 AT 15.00 1(1)
TELESTE SIGNS A FRAME AGREEMENT WITH A LEADING HOSPITALITY SOLUTIONS PROVIDER TO
SUPPLY DIGITAL HEADEND SOLUTIONS TO HOTELS ACROSS EUROPE AND THE MIDDLE EAST
Teleste have concluded a Strategic Frame Agreement with one of the worlds
leading Hospitality Solutions providers. Under this agreement, Teleste will
supply Digital Headend Equipment together with Integration and Support Services
to as many as 1000 hotels over the next 3 years.
Teleste products have been integrated into the hotels interactive entertainment
system, thus providing a totally unique digital broadcast and interactive
services experience into both coaxial and Ethernet wired hotel rooms.
The estimated value of the frame agreement exceeds five million euros to be
delivered over the next three years.
Teleste is an international technology group founded in 1954, which is
specialized in broadband data communication systems and solutions. The group is
divided into two Strategic Business Units: Broadband Cable Networks and Video
Networks. Broadband Cable Networks serves cable operators and a major part of
its business activities are handled through direct customer contact. Video
Networks supplies solutions for optical signal transmission and video network
management software solutions for video surveillance and a major part of its
business is handled through system integrators. Both Business Units are among
the leading providers in their market areas and are globally recognized for
their know-how and ability to produce technically cutting edge solutions year
after year. In 2005 the group's net sales in continuing business totalled EUR
82.6 million and the group employed 557 persons at the year-end. The company has
approximately 30 offices world-wide. Close to 90% of Teleste's net sales are
generated outside Finland. The company is listed on the main list of Helsinki
Exchanges. Visit www.teleste.com for more information.
CEO Jukka Rinnevaara, tel +358 2 2605 866 or +358 400 747 488