Turku, Finland, 2016-06-16 09:00 CEST (GLOBE NEWSWIRE) --
TELESTE CORPORATION STOCK EXCHANGE RELEASE 16.6.2016 AT 10:00
TELESTE AND HUAWEI AGREE TO CO-OPERATE ON DANISH GIGASPEED PROJECT
Teleste has reached an agreement with the global telecommunication company Huawei to deliver the next generation of intelligent amplifiers for use in TDC Group’s cable network upgrade in Denmark to the new DOCSIS 3.1 technology. The upgrade of the cable network will begin in June 2016, and is targeted to be completed by the end of 2017.
The cable network upgrade project is significant in European scale and will, when finished, be the first complete network transformation performed to DOCSIS 3.1 standard. With this network upgrade to DOCSIS 3.1 frequencies TDC will be able to deliver speeds of 1 Gbit/s on coaxial cable to 50 % of the Danish households.
As broadband traffic grows almost 50 % each year, MSOs need to upgrade their coaxial networks to the gigabit level in order to offer IP-based and customized video services. By investing in DOCSIS 3.1 upgrade, cable operators can re-vitalize their existing cable network assets to compete successfully with Fibre-To-The-Home operators.
This project generates significant volumes for Teleste DOCSIS 3.1 compliant amplifiers. The parties have agreed not to disclose the value of the deal.
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 access network design, construction and maintenance. In 2015, Teleste's net sales totaled EUR 248 million, and the company employed about 1,500 people. Teleste runs a worldwide network of offices and more than 95 % 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
Jukka Rinnevaara, phone +358 2 2605 611 or +358 400 747 488