Customer contract in 5G Cloud Network Data Layer at risk of termination
Enea today announces that the multi-year contract for the 5G Cloud Network Data Layer, signed in June 2020 with a leading European telecom operator, may be terminated by the customer before final delivery from Enea has taken place. The main part of the contract consists of software licenses for Enea's product Stratum, which have been recognized as revenue in connection with the completion of deliveries and the achievement of project goals.
The total contract was initially valued at up to EUR 24 million and has so far generated revenues amounting to EUR 14.5 million.
During the first quarter, Enea will make reservations for reported but not yet received revenues attributable to 2021 and 2022 amounting to 4 MEUR.
During the second quarter, the board will review any need to write down goodwill and other intangible assets.
Contact
Ola Burmark, Chief Financial Officer
Phone: +46 8 507 140 00
E-mail: [email protected]
About Enea
Enea is a world-leading specialist in software for telecom and cybersecurity. The company’s cloud-native solutions connect, optimize, and secure services for mobile subscribers, enterprises, and the Internet of Things. More than 100 communication service providers and 4.5 billion people rely on Enea technologies every day.
Enea has strengthened its product portfolio and global market position by integrating a number of acquisitions, including Qosmos, Openwave Mobility, Aptilo Networks, and AdaptiveMobile Security.
Enea is headquartered in Stockholm, Sweden, and is listed on Nasdaq Stockholm.
For more information: www.enea.com