Turku, Finland, 2014-08-26 13:00 CEST (GLOBE NEWSWIRE) --
TELESTE CORPORATION STOCK EXCHANGE RELEASE 26.8.2014 AT 14:00
TELESTE SIGNS SIGNIFICANT FRAME AGREEMENT WITH ALTICE GROUP ON ACCESS NETWORK DELIVERIES SUPPORTING DOCSIS 3.1 STANDARD
Teleste Corporation, leading provider of video and broadband technologies and associated services, has signed a frame agreement with Altice Group on access network deliveries for the next five years. The Altice Group is a multinational cable and telecommunications company with a presence in e.g. France, Israel, Belgium & Luxembourg, Portugal and the Caribbean Islands. Altice provides cable based services like high quality pay television, fast broadband Internet and fixed line telephony and, in certain countries, mobile telephony services to both residential and corporate customers.
Under the frame agreement Teleste provides to Altice access network equipment which enable delivery of new broadband services according to DOCSIS 3.1 standard. DOCSIS 3.1 enables multigigabit broadband speeds to be offered to subscribers. This will be the first mass-scale deployment of DOCSIS 3.1 capable access network in Europe.
The value of the agreement is estimated to exceed EUR 20 million over the next five years. The agreement is an extention to previous frame agreement with Altice Group.
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 2013, Teleste's net sales totaled EUR 193 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