Enea Signs Multi-year 5G Contract Worth up to EUR 24 Million
STOCKHOLM, June 12, 2020 /PRNewswire/ -- Enea has signed a contract for 5G Cloud Network Data Layer with a Tier 1 European telecom service provider, headquartered in Germany. The contract is expected to generate average annual revenues for Enea of EUR 4-5 million during the contract period, which is up to five years, resulting in a total contract value of EUR 24 million, assuming that the project runs the full term. The main part of the contract relates to software licenses for Enea's Stratum product. License revenues are recognized when delivery and project milestones are passed, starting with expected EUR 4 million in 2020, of which EUR 2 million in the second quarter. Revenues for associated services, such as integration, support, and maintenance, are recognized throughout the contract period.
Enea is a market leader in cloud data management for the mobile core, with a portfolio of cloud native software for 4G and 5G. The Stratum product for Cloud Network Data Layer is an essential part of the 5G Core, where the standard is based on unified data management between different applications, replacing vendor specific solutions. Stratum allows service providers to transition from legacy 4G Subscriber Data Management to an open, cloud native, service-based 5G architecture. This transformation enables higher application velocity, faster innovation, and considerable operational benefits inherent in a 5G cloud networking future.
"The new contract is another major 5G Stratum win and confirms our leading position in the Cloud Network Data Layer market. Our unique solution is the result of several years' innovation and close collaboration with Tier 1 customers. The revenues further strengthen our Network Solutions product group and show the potential of our 5G investments.", says Jan Häglund, President and CEO, 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 June 12, 2020 at 09:10 CET.
About Enea
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 OSE®ck, 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
For more information contact:
Jan Häglund, President and CEO
E-mail: jan.haglund@enea.com
Lotta Trulsson, Executive Assistant
E-mail: lotta.trulsson@enea.com
Phone: +46 8 507 140 00
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