Turku, Finland, 2012-12-12 10:15 CET (GLOBE NEWSWIRE) --
TELESTE CORPORATION STOCK EXCHANGE RELEASE 12.12.2012 AT 11:15
STOFA AND TELESTE HAVE SIGNED A FRAME AGREEMENT REGARDING SUPPLY OF CABLE TV EQUIPMENT
Stofa A/S, the second largest cable operator in Denmark, has signed a frame agreement with Teleste regarding supply of cable TV access network equipment. The frame agreement is valid for two years and the estimated value is around EUR 2 million. This frame agreement is renewing and extending the previous agreement and hence ensuring smooth continuation of Stofa’s access network capacity upgrades.
Under the agreement Teleste will supply its most advanced products belonging to the intelligent network concept ranging from optical transmission equipment to coax amplifiers, as well as network management software tools.
Stofa A/S is a Danish triple play operator providing a broad selection of television and pay-TV offerings, high speed broadband and telephone services to its customers. For the past 53 years Stofa has developed a strategic relationship to some 300 antenna associations in Denmark. With 450 employees at its headquarters in Horsens and 8 branch offices across Denmark, Stofa has generated sales of EUR 150 million in 2011. Throughout the past few years TV has converged with the web, and new services as well as device innovations have been launched at an increasing pace. Thus, Stofa has already introduced time-shift TV, a 48 hour catch-up service, WEB-TV and WEB-TV-2-GO. To this should be added the proven DVB-C/IP STB & PVR services as well as a VOD service. Stofa was established in Horsens by Anton Petersen in 1959, and in 1995 Stofa was acquired by Telia AB. Since August 2010 Stofa is owned by Ratos AB, the largest listed Nordic private equity company dating back to 1866.
Teleste is an international technology group founded in 1954, which is specialized in broadband video and data communication systems and services. The Group is active in two business segments, Video and Broadband Solutions and Network Services; in both fields, we are among the global leaders. Video is at the core of our business activities, with a focus on the processing, transmission and management of video and data for operators and public authorities who provide various video-related information, entertainment and security services to end-users. Video and Broadband Solutions specializes in product solutions for broadband access networks, video service platforms and video surveillance applications. Network Services deliver comprehensive network service solutions including new construction, rebuilding, upgrading, planning and maintenance services of cable networks. In 2011 the Group's net sales totaled EUR 184 million and the Group employed 1,319 persons at the year-end. The company has approximately 30 offices world-wide and over 90% of Teleste's net sales are generated outside Finland. The company is listed on the NASDAQ OMX Helsinki Ltd. For more information visit www.teleste.com.
CEO Jukka Rinnevaara, phone +358 2 2605 866 or +358 400 747 488
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