Turku, Finland, 2017-07-06 08:00 CEST (GLOBE NEWSWIRE) -- TELESTE CORPORATION Stock exchange release 6.7.2017 AT 09:00
TELESTE INVESTS IN THE GROWING US BROADBAND MARKET BY CREATING A JOINT VENTURE WITH ANTRONIX
Teleste has created a joint venture with the US company Antronix to promote sales of the companies’ broadband network products for North-American cable operators. The new company operates under the name Teleste Intercept LLC and it will start its operation during 2017.
The joint venture builds on Teleste’s strong technology expertise and leading access network offering, as well as on Antronix’s well established position as a technology vendor for the major cable operators in the United States. With its size, the US market accounts for the most significant cable infrastructure market in the world.
Teleste and Antronix have complementary product lines, and the companies expect to generate positive synergy by promoting them together. With its target markets in the United States and Canada, the joint venture will focus on enhancing the offering of Teleste’s broadband network products fitted to the local requirements as well as on Antronix’s fibre optics products designed for cable broadband networks.
Teleste owns 60% of shares in the joint venture. Business turnover is expected in 2018 and it is forecasted to grow significantly in the following years.
”Cooperation with Antronix offers Teleste an excellent opportunity to provide its innovative, DOCSIS® 3.1-compliant broadband solutions for the North American cable operators. The cable TV and broadband markets in the North America are going through a rapid technology change and their considerable growth potential opens opportunities for new products and vendors to enter the market. Teleste’s innovations and intelligent network solutions have been designed for the highly advanced European market requirements, and we believe that they will also offer significant options for North American operators to improve competitiveness of their broadband services”, shared Jukka Rinnevaara, CEO of Teleste.
Creating the joint venture follows Teleste’s strategy to fit its offering of broadband network products for the North-American markets, and enables the company to strengthen its position as a leading international provider and developer of broadband technologies. Previously, Teleste has made significant product development with its DOCSIS 3.1-compliant network products, and the company’s current offering covers all parts of the broadband network from headend to home.
Antronix is a market-leading designer and manufacturer of broadband products in North America. The company’s innovative products – multi-taps, optical nodes, residential amplifiers, line passives, subscriber passives, and grounding hardware - have set industry benchmarks for cutting-edge technology and performance for more than 30 years. Technologically advanced solutions and enhancements like the Antronix E-Option multi-tap reverse signal conditioning plug-ins provide a cost-effective solution for bringing legacy systems into DOCSIS 3.1 compliance. Every Antronix product is engineered for quality, flexibility, and value-added ownership to help customers provide superior service to their subscribers. More information: www.antronix.com.
Teleste offers an integrated product and service portfolio that makes it possible to build and run a better networked society. Our solutions bring television and broadband services to your home, secure your safety in public places and guide your use of public transport. With solid industry experience and drive for innovations, we are a leading international company in broadband, security and information technologies and related services. We connect with our customers through a global network of offices and partners. In 2016, Teleste’s net sales reached EUR 260 million and the company employed over 1500 people. Teleste is listed on Nasdaq Helsinki. For more information: www.teleste.com and follow @telestecorp on Twitter.
TELESTE CORPORATION
Jukka Rinnevaara CEO
ADDITIONAL INFORMATION: CEO Jukka Rinnevaara, phone +358 2 2605 611 or +358 400 747 488
DISTRIBUTION: Nasdaq Helsinki Main Media www.teleste.com
