Enea provides update regarding dispute with large customer
As previously communicated, Enea has initiated arbitration proceedings with one of the company's largest customers regarding how to interpret the provisions on royalty calculation in the contract governing the use of Enea's OSE operating system in the customer's telecommunications equipment. See initial press release on November 3, 2016. As further announced, the dispute has subsequently extended to also include a one-sided price reduction that the customer is introducing.
The arbitration proceedings regarding the initial dispute have now been completed and an arbitral award is to be rendered no later than February 28, 2018. The award may, however, be rendered earlier. The dispute regarding the customer’s one-sided price reduction could not be brought within the scope of the proceedings now completed but is handled separately. Enea expects to have to initiate arbitration proceedings also for this part of the dispute.
This 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 persons set out below, at 11:15 a.m. CET on November 16, 2017.
For more information visit www.enea.com/investors or contact:
Anders Lidbeck, President & CEO
E-mail: anders.lidbeck@enea.com
Julia Steffensen, Investor Relations
Phone: +46 70 971 03 33
E-mail: julia.steffensen@enea.com
About Enea
Enea develops the software foundation for the connected society. We supply open-source based NFVI software platforms, embedded DPI software, Linux and real-time operating systems, and professional services. Solution vendors, Systems Integrators, and Service Providers use Enea to create world-class networking products and services. More than 3 billion people around the globe already 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 2017.