ARTA Artilium

TIDMARTA

RNS Number : 3226X

Artilium PLC

21 February 2017

Artilium plc

('Artilium' or the 'Company')

Artilium secures major contract upgrade and extension from largest customer Telenet

Artilium plc (LSE/AIM: ARTA), the AIM quoted provider of innovative telecommunication software and solutions, is pleased to announce that it has secured an expanded MVNE platform agreement with its largest customer, Telenet Group BVBA ("Telenet"), securing the relationship for the next five years.

Highlights:

   --     Expanded MVNE Contract to deliver innovative MVNO services over the next five years 
   --     New ARTA Bill(R) solution available to Telenet Group 
   --     Contract extension includes a cash payment to be effected this month of EUR5.3 million 

Telenet has decided, given the importance of the partnership and their overall satisfaction with Artilium's solutions, to make a commitment to Artilium for the services it is due to receive over the next five years. As part of the extension Artilium has secured a cash payment to be effected this month of EUR5.3 million for revenue which will be recognised in equal instalments over the next five years.

As part of this contract extension Telenet will also get access to the newly developed ARTA Bill(R) solution. ARTA Bill(R) is Artilium's high-throughput business solution to automate and streamline MVNE/MVNO billing & invoicing processes. It bridges the gap between the real-time telecom production platform and third-party ERP invoicing systems. ARTA Bill(R) is part of Artilium's growing suite of billing & invoicing solutions.

Bart Weijermars, CEO, commented: "This commitment by Telenet Group clearly shows that Artilium delivers high quality innovative solutions to its customers. Based on this positive result with our most significant customer we feel confident that we can further expand our managed services business. We will continue developing new innovative offerings. The cash payment will be used to improve our working capital position and further develop the business."

For further information please contact:

 
 Artilium plc 
  Bart Weijermars - Chief Executive          +32 (0)502 
  Officer                                     30300 
 
 
 finnCap Ltd 
  Jonny Franklin-Adams & Scott Mathieson 
  (corporate finance)                        +44 20 7220 
  Camille Gochez (corporate broking)          0500 
 

About Artilium

Artilium is a demonstrated leader in the development of next generation communication technologies. Artilium's strategy focuses on supporting its customers to successfully grow their business by providing flexible, cost effective and innovative solutions.

Artilium's innovation-driven strategy empowers telecom operators around the globe to face the tremendous challenges ahead. We combine next-generation technology with traditional telecom environments to create exciting new business opportunities for our customers. This ensures that our customers are able to keep up with rapidly evolving market demands while simultaneously growing their businesses.

ARTA(R) is the real-time Authentication, Authorization and Accounting (AAA) software that brings a full suite of new functionalities to telecom Operators and virtual Operators. Thanks to ARTA(R) value-added services portfolio, including for instance AAA of voice, text and data services, VoIP, 3G and 4G compliance, mobile payments and location-based services, our partners are more than ready to meet future customer needs.

Today, multiple renowned national and international telecommunication companies rely on Artilium to deliver voice, text and data services to about 1.5 Million end users every day.

Artilium's "Pay-As-You-Grow" model allows us to scale our solutions to the exact needs of our customers. As a latest innovation, Artilium offers its product suite from the Cloud as a PAAS (Platform As A Service), yielding ARTA's scalability, flexibility and proven stability.

Artilium PLC is a publicly listed software company on the London Stock Exchange (LSE/AIM: ARTA).

This information is provided by RNS

The company news service from the London Stock Exchange

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