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2010-10-25 13:30:00 CEST 2010-10-25 13:30:02 CEST REGULATED INFORMATION Teleste - Company AnnouncementTELESTE SUBSIDIARY CABLEWAY AG SIGNS A THREE-YEAR CONTRACT WITH KABEL DEUTSCHLANDTELESTE CORPORATION STOCK EXCHANGE RELEASE 25.10.2010 AT 14:30 TELESTE SUBSIDIARY CABLEWAY AG SIGNS A THREE-YEAR CONTRACT WITH KABEL DEUTSCHLAND Teleste's subsidiary Cableway AG has signed a three-year contract extension with Kabel Deutschland (KD) on the upgrading and maintenance services of cable networks. In terms of net sales, the estimated annual value of this frame agreement equals approximately EUR 50 million. The agreement is based on the frame of the previous two-year contract now about to expire. The new agreement consolidates Cableway's position as the leading German cable network services company enabling long-term development of the business. Two years ago Kabel Deutschland outsourced its technical upgrading and maintenance services for cable networks, whereby Cableway AG, Teleste's fully owned German subsidiary, gained a significant market share as a provider of upgrading services. Today Cableway is by far the largest service provider in Germany focusing on cable networks with every major German cable operator included in its clientele. Kabel Deutschland is the largest cable operator in Germany with approximately 9 million connected households today. The stock-listed company currently operates in 13 of 16 German federal states providing its customers with all the modern TV and telecommunication services. Sales of KD's broadband subscriptions are on a significant increase, which provides the largest growth area in the next few years. To enable growth, capacity of the cable network will be increased by upgrading the so-called house network sections and access sections based on the given requirements. Teleste is an international technology group founded in 1954, which is specialised in broadband video and data communication systems and services. The group is active in two business segments, Video and Broadband Solutions and Network Services; in both fields, we are among the global leaders. Video is at the core of our business activities, with a focus on the processing, transmission and management of video and data for operators and public authorities who provide multiple video-related information, entertainment and security services to end-users. Video and Broadband Solutions business segment has the emphasis on product solutions for broadband access networks, video service platforms and video surveillance applications. Network Services segment deliver comprehensive network service solutions including new construction, rebuilding, upgrading, planning and maintenance services of cable networks. In 2009 the group's net sales totalled EUR 142 million and the group employed 1260 persons at the year-end. The company has approximately 30 offices world-wide and over 90% of Teleste's net sales are generated outside Finland. The company is listed on the NASDAQ OMX Helsinki Ltd. www.teleste.com for more information. TELESTE CORPORATION Jukka Rinnevaara CEO ADDITIONAL INFORMATION: Mr Jukka Rinnevaara, CEO, Tel. +358 2 2605 866 or +358 400 747 488 DISTRIBUTION: NASDAQ OMX Helsinki Primary media www.teleste.com |
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