InCoax wins order for Managed Services of 0.49 MUSD (5 MSEK) from the US-based Fiber/LAN operator.
InCoax has received an order regarding software maintenance, operation, and platform support of installed InCoax systems from the US-based Fiber/LAN operator. The order amounts to USD 0.49 million (SEK 5 million). The order will be invoiced in 2022 and the revenue will be deferred for four years starting in January 2023.
The order includes the maintenance and expertise for the operation of the InCoax fiber access system, which will reduce the operator's need for operational personnel. Through the sale of these services, InCoax takes a step towards even closer cooperation with the operator, who gains access to the skills and expertise InCoax possesses as an ongoing service.
The global telecom managed services market stood at USD 20 billion in 2021 and is expected to grow by 13.6% over the forecast period to 2030 according to a 2021 report from “Reports and Data”. Operators generally need to improve their financial performance and reduce their operating costs and a way to do this is by outsourcing functions to professional providers who can offer improved efficiency and economies of scale.
"We have been working on designing our Managed Services offers for a long time and this order is good proof that the strategy is right", says Jörgen Ekengren, CEO of InCoax Networks AB.
"InCoax will successively launch added Managed Services offers in the form of packaged products, which will simplify the offer and clarify the value of our delivery", says Helge Tiainen, Head of Marketing, Sales and Product Management.
Learn more about InCoax and its MultiGigabit solutions here.
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 persons set out below, at 15.30 CET on December 14, 2022.
For additional information, please contact:
Jörgen Ekengren, CEO, InCoax Networks AB
jorgen.ekengren@incoax.com
+46 73 899 55 52
About InCoax Networks AB
InCoax Networks AB (publ) is reusing existing property coaxial networks for broadband access in Fiber-To-The-Home (FTTH) deployments for Communication Service Providers (CSP) globally.
The technology is a high performance, future proof, reliant, cost-effective and non-intrusive complement to fiber, that reduces installation time and improves take-up rate, to boost digital inclusion and Internet access for all.
To keep updated on corporate information, visit incoax.com. Augment Partners AB, tel. +46 8-604 22 55 info@augment.se, is acting as the company’s Certified Adviser.