STOCKHOLM, July 2, 2020 /PRNewswire/ -- Enea has signed a five-year contract for deployment of a Traffic Management platform and related software modules for acceleration and optimization with a local telecom service provider in Egypt. The minimum contract value is USD 1.3 million.
The contract includes a defined number of initial software licenses and associated services, such as integration, support, and maintenance. Software license and integration service revenues are recognized during the platform deployment project which is scheduled to occur during Q3 2020-Q1 2021. The customer has the option to purchase additional licenses in accordance with network traffic usage. Support and maintenance revenues will be recognized during the full contract period.
Enea is a market leader supporting mobile operators around the world in managing wireless network traffic more efficiently (lower total cost of ownership), and effectively (faster network speeds). The Enea Openwave Traffic Management solutions alleviate radio access network (RAN) congestion and maximize customer quality of experience.
"Traffic management technology helps customers handle increasing traffic and improve quality-of-experience for end users", says Jan Häglund, President and CEO of Enea. "The new contract confirms our position as market leader."
This information is information that Enea AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set below, on July 1, 2020 at 21:00 CEST.
For more information contact:
Jan Häglund, President and CEO
Lotta Trulsson, Executive Assistant
Phone: +46 8 507 140 00
Enea is a world-leading supplier of innovative software components for telecommunications and cybersecurity. Focus areas are cloud-native, 5G-ready products for mobile core, network virtualization, and traffic intelligence. More than 3 billion people rely on Enea technologies in their daily lives. Enea is listed on Nasdaq Stockholm. For more information: www.enea.com.
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