Ceragon acquires new customer in India set to deploy its new, innovative
ultra-compact energy-efficient radio in tens of thousands of new
sites, including managed services
ROSH
HA'AIN, Israel,
Jan. 11,
2024 /PRNewswire/ -- Ceragon Networks
Ltd. (NASDAQ: CRNT), the global innovator and leading
solutions provider of 5G wireless transport, today announced it has
signed an agreement with a global integrator, in support of a
network modernization project for a Tier 1 Operator in India. As stipulated in the agreement, Ceragon
will support a massive modernization project focused on upgrading
existing network capabilities, expanding capacity, improving
country-wide connectivity, and delivering services that meet, and
even exceed, India's growing
needs.
This brand-new customer of Ceragon will be the first to deploy
its newest solutions. The agreement, valued at approximately
$150 million, comprises planning,
product delivery and deployment services, as well as a multi-year
contract for Ceragon's Managed Services that covers day-to-day
monitoring, management, and maintenance oversite of the microwave
and mmW (millimeter wave) network. The actual value of the
agreement may vary by an increase or decrease of up to 25%,
depending upon the actual deployment requirements during project
roll-out. Ceragon is expected to begin delivery and deployment of
the new sites in Q2 of 2024. Deployment is expected to complete
within 7-9 quarters, with approximately 75% of the project value
expected to be recognized in this timeframe. The remaining
approximately 25% of the contract value is for Managed Services
& Maintenance and is expected to start being recognized within
a year from deployment, respectively.
Ceragon collaborated with a large Global Integrator, that is
overseeing the multi-billion network modernization project for the
Tier 1 Operator. The integrator worked with Ceragon to ensure the
microwave and mmW solution portion met the stringent Tier 1
Operator's requirements. All new microwave sites will utilize
Ceragon's new ultra-compact, energy-efficient all-outdoor radio. In
addition, several thousand mmW sites will be deployed using
Ceragon's E-Band product.
Doron Arazi, Ceragon CEO,
commented, "The scale and scope of this project reaffirms Ceragon's
strong brand recognition as an innovative and trustworthy partner
in the wireless transport space. We are excited to take part in
providing the citizens of India
with the future-friendly connectivity they need."
About Ceragon Networks
Ceragon Networks Ltd. (NASDAQ: CRNT) is the global innovator and
leading solutions provider of 5G wireless transport. We help
operators and other service providers worldwide increase
operational efficiency and enhance end customers' quality of
experience with innovative wireless backhaul and fronthaul
solutions. Our customers include service providers, public safety
organizations, government agencies and utility companies, which use
our solutions to deliver 5G & 4G broadband wireless
connectivity, mission-critical multimedia services, stabilized
communications, and other applications at high reliability and
speed.
Ceragon's unique multicore technology and disaggregated approach
to wireless transport provides highly reliable, fast to deploy,
high-capacity wireless transport for 5G and 4G networks with
minimal use of spectrum, power, real estate, and labor resources.
It enables increased productivity, as well as simple and quick
network modernization, positioning Ceragon as a leading solutions
provider for the 5G era. We deliver a complete portfolio of turnkey
end-to-end AI-based managed and professional services that ensure
efficient network rollout and optimization to achieve the highest
value for our customers. Our solutions are deployed by more than
600 service providers, as well as more than 1,600 private network
owners, in more than 130 countries. For more information please
visit: www.ceragon.com
Ceragon Networks® and FibeAir® are registered trademarks of
Ceragon Networks Ltd. in the United
States and other countries. CERAGON ® is a trademark of
Ceragon Networks Ltd., registered in various countries. Other names
mentioned are owned by their respective holders.
Safe Harbor
This press release contains statements that constitute
"forward-looking statements" within the meaning of the Securities
Act of 1933, as amended and the Securities Exchange Act of 1934, as
amended, and the safe-harbor provisions of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements are
based on the current beliefs, expectations and assumptions of
Ceragon's management about Ceragon's business, financial condition,
results of operations, micro and macro market trends and other
issues addressed or reflected therein. Examples of forward-looking
statements include, but are not limited to, statements regarding
the benefits of the transaction as well as statements regarding the
companies' products, prospects and results following the
transaction. You may identify these and other forward-looking
statements by the use of words such as "may", "plans",
"anticipates", "believes", "estimates", "targets", "expects",
"intends", "potential" and similar expressions, or the negative of
such terms, or other comparable terminology (although not all
forward-looking statements contain these identifying words that are
intended to identify forward-looking statements).
Although we believe that the expectations reflected in such
forward-looking statements are based upon reasonable assumptions,
we can give no assurance that our expectations will be obtained or
that any deviations therefrom will not be material. Such
forward-looking statements involve known and unknown risks and
uncertainties that may cause the actual results, performance or
achievements to be materially different from any future results or
performance to differ materially from those anticipated, expressed
or implied by such forward-looking statements. These risks and
uncertainties include, but are not limited to: the risk that the
anticipated benefits of the transaction may not be realized on the
contemplated timeframe or at all, which may adversely affect the
company's businesses and the price of Ceragon's traded securities;
; exposure to inflation, currency rate and interest rate
fluctuations and risks associated with doing business locally and
internationally, as well as fluctuations in the market price of
Ceragon's traded securities; the effect of the ongoing armed
conflicts along Israel's borders,
including the Israel-Hamas war in Gaza; the impact of general economic
conditions on Ceragon's business; potential negative changes in
general economic conditions in the regions or the industries in
which Ceragon operates; and such other risks, uncertainties and
other factors that could affect our results of operation, as
further detailed in Ceragon's most recent Annual Report on Form
20-F, as published on May 1, 2023,
and in Ceragon's other filings with the Securities and Exchange
Commission ("SEC") as well as other documents that may be
subsequently filed by Ceragon from time to time with the SEC.
We caution you not to place undue reliance on forward-looking
statements, which speak only as of the date hereof. Ceragon does
not assume any obligation to update any forward-looking statements
in order to reflect events or circumstances that may arise after
the date of this release unless required by law.
Ceragon's public filings are available on the SEC's website at
www.sec.gov and may also be obtained from Ceragon's website at
www.ceragon.com.
Investor & Media Contact:
Rob Fink or Bob Meyers
FNK IR
Tel. 1+646-809-4048
crnt@fnkir.com
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SOURCE Ceragon Networks Ltd.