ACQUISITION STRENGTHENS TELESTE'S POSITION AS COMPREHENSIVE SUPPLIER OF IPTV SOLUTIONS
TELESTE CORPORATION INVESTOR NEWS 6.2.2008 AT 11:30
ACQUISITION STRENGTHENS TELESTE'S POSITION AS COMPREHENSIVE SUPPLIER OF IPTV
SOLUTIONS
Teleste has acquired the entire share capital of the Finnish software and video
service solution provider Ortikon Interactive Ltd. Founded in 2000 Ortikon
develops complete integrated software solutions designed for video business. The
company supplies the related comprehensive systems mainly for European cable
operators.
As demand for the new video services increases in Europe the market share of
digital headend central control devices and, in particular, comprehensive IP
based solutions is growing rapidly. This acquisition expands Teleste's provision
of IPTV systems, which in turn, enables Teleste to serve telecom operators in
addition to cable operators. The two companies have a history of cooperation;
Teleste has delivered products of Ortikon as part of Teleste's complete headend
systems, for instance, to Digicable Networks in India.
Through its strong network of international sales offices, Teleste will boost
the global marketing of Ortikon solutions while providing them with a
comprehensive maintenance and service organisation. Thus, applications by
Ortikon and products and services provided by Teleste complement one another in
an excellent manner. Ortikon will be part of Teleste Digital Video and Broadband
Solutions business unit. The former principal owner and CEO Seppo Kalli will
continue in his current position as CEO. The company employs personnel of 11.
The acquisition will not have an essential effect on Teleste's financial figures
for the current year. Ortikon remains based in Tampere. The parties have agreed
to keep the contract price confidential.
Founded in 1954 Teleste is an international technology group specialising in
broadband data communication systems and solutions. The Group is divided into
the following strategic Business Units: Customers of Broadband Cable Networks
include cable operators and majority of the business is carried out through
direct customer contacts. Video Networks supplies solutions involving optical
signal transmission and video network management software solutions for video
surveillance. Major part of its business is conducted through system
integrators. Both Units are ranked among the leading providers in their
respective market areas and are recognised globally for their know-how and
ability to present technically cutting edge solutions on a continual basis. In
2007 the Group's net sales totalled EUR 125.1 million. At the year-end the Group
employed on average 672 persons. The company runs about 30 offices worldwide and
more than 90% of Teleste's net sales are generated outside Finland. The company
is listed on the OMX Nordic Exchange in Helsinki.
For additional information access www.teleste.com.
TELESTE CORPORATION
Jukka Rinnevaara
President and CEO
FOR MORE INFORMATION:
CEO Jukka Rinnevaara, tel +358 2 2605 866 or +358 400 747 488
DISTRIBUTION:
OMX Nordic Exchange in Helsinki
Media
www.teleste.com
