Enea Signs Multi-year 5G Contract Worth USD 15-20 Million
STOCKHOLM, April 7, 2020 /PRNewswire/ -- Enea has signed a 5-year contract for 5G Cloud Network Data Layer with a Tier 1 North American telecom service provider. The contract includes perpetual software licenses and associated services, such as integration, support, and maintenance. Revenues are projected to grow starting next year, with an increasing number of subscriptions handled by the 5G Core system. Provided that the growth of subscriptions is in line with expectations, the contract will on average generate USD 3-4 million per 12-month period during the 5-year contract term.
Enea is a market leader in cloud data management with a portfolio of cloud native software for 4G and 5G. The Cloud Network Data Layer plays an important role in the 5G Core. This new standard is based on a cloud architecture which enables service providers to decouple the proprietary silos of today's network to achieve efficiencies of the cloud.
"The new contract confirms our leading position in the new 5G Network Data Layer market. The contract will generate significant revenues during the coming years, as the number of 5G subscribers grows," says Jan Häglund, President and CEO of Enea.
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 April 7, 2020 at 12:45 CET.
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
Enea, Enea OSE, Netbricks, Polyhedra, Zealcore, Enea Element, Enea Optima, Enea LINX, Enea Accelerator, Enea dSPEED Platform and COSNOS are registered trademarks of Enea AB and its subsidiaries. Enea OSEck, Enea OSE Epsilon, Enea Optima Log Analyzer, Enea Black Box Recorder, Polyhedra Lite, Enea System Manager, Enea ElementCenter NMS, Enea On-device Management and Embedded for LeadersTM are unregistered trademarks of Enea AB or its subsidiaries. Any other company, product or service names mentioned above are the registered or unregistered trademarks of their respective owner. Enea AB 2020
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President and CEO
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