Turku, Finland, 2015-03-02 12:00 CET (GLOBE NEWSWIRE) --
TELESTE CORPORATION STOCK EXCHANGE RELEASE 2.3.2015 AT 13:00
TELENET SELECTS TELESTE FOR THEIR GIGA NETWORK PROJECT
Teleste has reached a framework agreement with Telenet on access network product deliveries for the Telenet Giga network investment known as “de grote netwerf”. Under the framework agreement Teleste will provide Telenet with amplifiers, which will enable delivery of new broadband services according to DOCSIS 3.1 standard. DOCSIS 3.1 enables multigigabit broadband speeds to be offered to subscribers. Telenet’s intent is also to include Teleste passive products within the framework agreement.
The Telenet investment will be one of the most significant access network upgrade projects within the European cable industry. Teleste was selected after a vigorous tendering process thanks to its superior product performance, competitive price and role as trusted supplier to Telenet. The total value of the agreement is estimated up to EUR 15 million within the years 2015-2019. The agreement is an extension to a previous framework agreement with Telenet.
Telenet is a leading provider of telecommunication services, focusing on providing cable television, high-speed Internet and both fixed and mobile telephony services in Flanders and Brussels in Belgium. The Giga network investment, “de grote netwerf” is targeting to provide at least 1 Gigabit per second broadband speeds for Telenet subscribers over the coming years.
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 - video 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 video security and information solutions. Network Services offers comprehensive services for network design, construction and maintenance. In 2014, Teleste's net sales totaled EUR 197 million, and the company employed more than 1,400 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 Helsinki. For more information see www.teleste.com
CEO Jukka Rinnevaara, phone +358 2 2605 866 or +358 400 747 488