Turku, Finland, 2013-03-11 09:30 CET (GLOBE NEWSWIRE) --
TELESTE CORPORATION STOCK EXCHANGE RELEASE 11.3.2013 AT 10:30
TELESTE REFOCUSES ITS OTT OFFERING BUSINESS
To improve its competitiveness for multiscreen solutions, Teleste has decided to focus its activities in the future on OTT product innovations (over the top) as a part of the Ubique solution brand launched in 2012. Consequently, Teleste has decided to discontinue the development of its own IPTV Middleware offering and to seek partnerships in this area.
Teleste has initiated co-determination negotiations covering company's development team in Tampere. The estimated number of personnel reductions is 6 persons.
Teleste is an international technology company that develops and offers video and broadband technologies and related services. Our supply of technology contributes to the convenience and safety of daily living. Our core business is video - image and data processing, transfer and management. Our customer base consists of cable and telecom operators, as well as public sector organizations. Our business is divided into two divisions, which are Video and Broadband Solutions and Network Services. In both areas, we rank among the world's leading companies and technological forerunners. Video and Broadband Solutions focuses on access networks and product solutions in video surveillance applications. Network Services offers comprehensive services for network design, construction and maintenance. In 2012, Teleste's net sales totaled EUR 194 million, and the company employed more than 1,300 people. Teleste runs a worldwide network of offices and more than 90% of its sales are generated outside Finland. The company is listed on the NASDAQ OMX Helsinki Ltd. For more information see www.teleste.com
ADDITIONAL INFORMATION: CEO Jukka Rinnevaara, phone +358 2 2605 866 or +358 400 747 488
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