Enea Signs Multi-year 5G Contract Worth up to EUR 24 Million
E
nea has signed a contract for 5G Cloud Network Data Layer with a Tier 1 European telecom service provider, headquartered in Germany.
The contract is expected to generate average annual revenues for Enea of EUR 4-5 million during the contract period, which is up to five years, resulting in a total contract value of EUR 24 million, assuming that the project runs the full term.
The main part of the contract relates to software licenses for Enea's Stratum product. License revenues are recognized when delivery and project milestones are passed, starting with expected EUR 4 million in 2020, of which EUR 2 million in the second quarter. Revenues for associated services, such as integration, support, and maintenance, are recognized throughout the contract period.
Enea is a market leader in cloud data management for the mobile core, with a portfolio of cloud native software for 4G and 5G. The Stratum product for Cloud Network Data Layer is an essential part of the 5G Core, where the standard is based on unified data management between different applications, replacing vendor specific solutions. Stratum allows service providers to transition from legacy 4G Subscriber Data Management to an open, cloud native, service-based 5G architecture. This transformation enables higher application velocity, faster innovation, and considerable operational benefits inherent in a 5G cloud networking future.
The new contract is another major 5G Stratum win and confirms our leading position in the Cloud Network Data Layer market. Our unique solution is the result of several years' innovation and close collaboration with Tier 1 customers. The revenues further strengthen our Network Solutions product group and show the potential of our 5G investments., says Jan Haeglund, President and CEO, Enea.
✔️ Enea Signs Multi-year 5G Contract Worth up to EUR 24 Million
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