Additional information to previous press release regarding the Letter of Intent with a business potential of 100,000 - 200,000 apartments
Due to InCoax Networks AB (publ):s ("InCoax" or "Company") press release regarding the Letter of Intent with a business potential of 100,000 - 200,000 apartments, published on December 14, 2018, additional information regarding counterparty, geographic markets and price dialogue is provided.
On December 14, the company signed a Letter of Intent with a leading broadband integrator from a country in the Middle East. This Letter of Intent, with a business potential of 100,000 - 200,000 apartments, was concluded after successful validation of the solution with the end customer. Price negotiations have not begun and the Company can therefore not yet make an assessment of the potential order value. The broadband integrator is a privately owned company and is an authorized distributor and represents many leading international suppliers to both the TV and broadband industry. The broadband integrator’s end customer is a leading broadband operator active in the same country in the Middle East.
According to the previous press release published December 14, 2018, the next phase with operator field trials is being scheduled in detail, with the plan to conduct field test installations at the end customer in January 2019. According to the letter of intent, the broadband integrator and InCoax will after successful field trials, enter into an agreement to purchase the Company's In:xtnd™ solution for 100,000 - 200 000 apartments.
This information is such information as InCoax Networks 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 out below, at 13.40 CET on December 18 2018.
For more information:
Peter Carlsson, CEO, InCoax Networks AB
About InCoax Networks AB
InCoax Networks is innovating the future of broadband access. In:xtnd™ provides the next-generation smart and sustainable networking solutions to the world’s leading telecom and broadband service providers. For additional information about how we are saving the world from complicated, visit www.incoax.com.