Turku, Finland, 2015-02-13 11:30 CET (GLOBE NEWSWIRE) --
TELESTE CORPORATION STOCK EXCHANGE RELEASE 13.2.2015 AT 12:30
TELESTE´S SUBSIDIARY CABLEWAY SIGNS A THREE YEAR FRAME AGREEMENT WITH KABEL DEUTSCHLAND
Teleste's subsidiary Cableway AG has signed a three year frame agreement with one year option with Kabel Deutschland on the upgrading and maintenance services of cable networks. This agreement ensures the continuation of existing service business with Kabel Deutschland. The estimated value of this frame agreement is 50 to 60 million euros per annum.
The agreement builds on Cableway’s traditional field service expertise and expands it further towards sales activities by Cableway field technicians, which is a promising growth driver for both Kabel Deutschland and Cableway. A successful pilot of these sales activities was conducted in 2014. This new agreement ensures Cableway's position as the leading German cable network services company.
In 2008 Kabel Deutschland outsourced its technical upgrading and maintenance services of cable networks and as a result, Cableway gained a significant market share as a provider of such upgrading and maintenance services. At present, Cableway is by far the largest cable network service provider in Germany having all major German cable operators in its clientele.
The Vodafone Company Kabel Deutschland (KD), Germany’s largest cable operator, offers its customers high definition (HD), digital (SD) and analog TV, Pay TV and DVR offerings, Video on Demand, broadband Internet (up to 200 Mbit/s), WiFi services and fixed-line Phone services via cable. Kabel Deutschland also distributes mobile services. Situated in Unterfoehring near Munich, the MDAX listed company operates cable networks in 13 German federal states and supplies its services to approximately 8.3 million connected households. As per March 31, 2014, Kabel Deutschland had approximately 3,700 employees. In the fiscal year 2013/14, the Company reported revenues of EUR 1,900 million and an adjusted EBITDA of EUR 910 million.
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 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
President and CEO
CEO Jukka Rinnevaara, phone +358 2 2605 866 or +358 400 747 488