TELESTE CORPORATION STOCK EXCHANGE RELEASE 8.5.2018 AT 09:30
TELESTE’S SUBSIDIARY CABLEWAY SIGNS A NEW THREE-YEAR PARTNERSHIP AGREEMENT WITH VODAFONE GERMANY
Teleste’s subsidiary Cableway AG has signed a new three-year strategic partnership agreement with Vodafone Germany for installation and maintenance services to service Vodafone’s cable network customers in Germany.
The agreement ensures the continued partnership with Vodafone Germany one year prior to the expiry of the previous contract. With an expected contract value in excess of EUR 200 million over term, it will strengthen the long-term profitability and sustainability of Cableway’s services business and provide further growth opportunities for Teleste’s business footprint in Germany.
The cooperation with Vodafone Germany started in 2008 when it outsourced part of the technical services of its cable networks to Cableway. This long-standing cooperation between Vodafone and Cableway together with the early renewal of the contract proves an exceptional, trust-based partnership.
The new agreement underpins the execution of Cableway’s continuous productivity improvement programme, enables further growth of its operations and expansion into higher added-value services.
Vodafone Germany is a leading integrated telecommunications company and Germany’s largest cable television operator, offering fixed broadband, mobile communications, internet and TV services. As a gigabit company, Vodafone is a key contributor to the development of Germany’s 5G infrastructure. The Düsseldorf-based company’s continuous investments in faster fixed and mobile networks are taking Germany forward into the gigabit society. Vodafone Germany offers a comprehensive ICT portfolio for enterprise customers, networking people and machines, facilitating secure corporate networks and storing enterprise data in the German cloud. Around 90 % of all DAX-listed companies and 15 of Germany’s 16 federal states are already Vodafone customers. Vodafone Germany generated annual revenue of 10 billion euros in the last fiscal year with 46 million SIM cards, 6.5 million fixed broadband customers and numerous digital solutions.
Teleste offers an integrated product and service portfolio that makes it possible to build and run a better networked society. Our solutions bring television and broadband services to your home, secure your safety in public places and guide your use of public transport. With solid industry experience and drive for innovations, we are a leading international company in broadband, security and information technologies and related services. We connect with our customers through a global network of offices and partners. In 2017, Teleste’s net sales reached EUR 235 million and on average it had approximately 1,500 employees. Teleste is listed on Nasdaq Helsinki.
CEO Jukka Rinnevaara, phone +358 2 2605 611
DEPUTY CEO Johan Slotte, phone +358 405546211