Tecnotree has agreed to split a LatAm delivery project into two projects
Stock exchange release
27 January 2015 at 09.30 am EET
Tecnotree Corporation has agreed to split the USD 30.5 million delivery project with a Latin American operator group, which was announced on 20 December 2011, into two projects. The first project is worth USD 13.2 million and consists of the optimization to a prepaid platform and the delivery of an order management platform. The first project is reaching its completion and will be finalized during first half of 2015.
The agreed phasing shall lower Tecnotree’s order backlog by USD 17.3 million, as the delivery project shall be split into two projects and the commercial negotiations of the second phase have not yet been concluded. The agreed phasing shall clarify the scope of the delivery and release USD 5.6 million working capital, as according to the renegotiated terms, Tecnotree has the right to invoice after the completion of the sub delivery phases.
As part of the phasing, the parties have agreed that Tecnotree shall deliver the Tecnotree Agility TM Convergent Charging Solution for the operator group’s three countries as the mobile data charging platform. In addition, Tecnotree shall deliver professional services to ensure the smooth implementation and integration with existing network operations and business support systems.
“The agreed phasing of the delivery project clarifies the scope of the delivery, and releases working capital. In addition the second phase of the delivery project is very synergic to the 24.4.2012 announced Tecnotree Agility TM Convergent Charging Solution delivery project to the same operator group in another country and solidifies Tecnotree’s role as leading charging solution vendor in the Latin American market,” comments Ilkka Aura, Executive Vice President, Europe and Americas.
The agreed phasing does not affect the guidance given for the fiscal years 2014 or 2015.
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Tecnotree is a global provider of telecom IT solutions for the management of products, customers and revenue. Tecnotree helps communications service providers to transform their business towards a marketplace of digital services. Tecnotree empowers service providers to monetise on service bundles, provide personalised user experiences and augment value throughout the customer lifecycle. With over 1000 telecom experts, Tecnotree serves more than 100 service providers in over 70 countries. Tecnotree is listed on the main list of NASDAQ OMX Helsinki with the trading code TEM1V. For more information on Tecnotree, please visit www.tecnotree.com