Turku, Finland, 2013-04-08 12:45 CEST (GLOBE NEWSWIRE) --
TELESTE CORPORATION INVESTOR NEWS 8.4.2013 AT 13:45
TELESTE IS STRENGTHENING ITS POSITION AS END-TO-END ACCESS NETWORK SUPPLIER FOR CABLE OPERATORS THROUGH AN ACQUISITION
Teleste has acquired the entire share capital of Asheridge Communications Ltd, the English provider of access network equipment for cable operators. Asheridge (www.ashcomms.com) has a particularly strong offering in HFC network passives products and customized solutions.
Asheridge is strengthening Teleste’s position as the leading supplier of access networks for European cable operators. With offices in the UK, Spain and Poland the Asheridge Group is bringing strong customer relationships in Great Britain, Ireland, The Netherlands and Southern Europe which complement and Teleste’s existing customer base. The Asheridge customer base offers new sales opportunities for Teleste’s product offering.
Similarly, Asheridge’s product offering complements Teleste’s current passives product portfolio. Asheridge has recently made significant investments in new technology innovations, which aim to improve the network reliability and reduce the operational costs (BarrIER technology). Through its strong international network of sales offices and customer base, Teleste will boost the sales of Asheridge products and innovations throughout Europe.
In 2012, Asheridge net sales exceeded EUR 6 million. The impact of the acquisition on Teleste turnover in 2013 is estimated to be approximately EUR 5 million. The impact on Teleste equity ratio and profitability during the current fiscal year is not significant. Through the acquisition Teleste personnel grows by 23 persons. The parties have agreed not to disclose the deal value in public. The business will be integrated into Teleste Video and Broadband Solutions Business Area and the previous shareholders are continuing to manage the business.
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
CEO Jukka Rinnevaara, phone +358 2 2605 866 or +358 400 747 488
NASDAQ OMX Helsinki