Enea signs USD 2.3 million agreement for Video Traffic Management
Stockholm, Sweden, August 30, 2019 Enea® (Nasdaq Stockholm: ENEA)
Enea has signed a USD 2.3 million agreement for its Openwave Traffic Management software with a mobile network operator in South-East Asia.
The contract was signed with an existing customer and includes software licenses as well as associated services such as integration, support and maintenance. The revenue for perpetual software licenses and professional services, totaling USD 2.0 million, will be recognized during the period third quarter 2019 to first quarter 2020. The support and maintenance services will generate USD 0.3 million in revenue during 2020 and 2021.
Video traffic is strategically important for mobile network operators and the traffic volumes continue to grow. Enea’s Openwave portfolio includes market-leading solutions for traffic management. They are used by many mobile network operators around the world for applications such as video traffic optimization and TCP acceleration. Future applications include radio access network congestion management and optimization of online gaming services, a market that is expected to grow with the introduction of 5G.
“This contract further strengthens Enea’s position as the leading vendor of video traffic optimization solutions. Our Openwave portfolio has proven valuable to many operators that are experiencing increasing video traffic and the demand for these types of solutions is growing in the Asia-Pacific region”, says Jan Häglund, President and Chief Executive Officer of Enea.
Enea AB (Nasdaq Stockholm: ENEA) is obliged to make this information public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set below, at 09:10 CEST on August 30, 2019.
For more information contact:
Jan Häglund, President and CEO
Björn Westberg, CFO
Phone: +46 8 507 140 00
Enea develops the software foundation for the connected society. We provide solutions for mobile traffic optimization, subscriber data management, network virtualization, traffic classification, embedded operating systems, and professional services. Solution vendors, systems integrators, and service providers use Enea to create new world-leading 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
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