Jan. 17, 2013
/PRNewswire/ -- With plans to enter the U.S. market through the recently announced acquisition of 100% of the assets of Telnicity, LLC, a U.S. MVNE/MVNO enabler company headquartered in
Oklahoma City, Oklahoma
and the award of a contract to provide out-of-band and transaction verification solutions in
with a leading U.S. financial institution, Elephant Talk Communications, Corp. (NYSE: ETAK) (
), an international provider of software and services developed to manage network, billing and systems infrastructure for the telecommunication industry and a market leader in providing solutions to counter electronic fraud for the financial services industry, today announced it has signed a contract to implement the Company's proprietary Software Defined Network ("SDN") platform for an established mobile operator in a major
market. Elephant Talk is also releasing preliminary results for fourth quarter 2012 and the year 2012.
The mobile outsourcing platform will have a capacity for 10 million SIMs. The Company expects the initial migration of approximately one million existing Latin American mobile subscribers to Elephant Talk's proprietary SDN platform to begin in mid-2013. The migration is expected to take several months. Subscribers on Elephant Talk's SDN platform will generate recurring revenue on a per subscriber per month basis.
Software Defined Networks are the most efficient way to handle the increasing demands from mobile operators, from small mobile operators to networks carrying tens of millions of SIMs. Elephant Talk, a leader in the development of SDNs, expects an increasing number of mobile networks to convert to these platforms over the next few years.
"The Latin American mobile telecom market has been a focus for Elephant Talk. We worked very hard to enter this market," stated
Steven van der Velden
, Chairman and CEO of Elephant Talk. "Our efforts have been rewarded with the signing of a multi-year contract. We are very proud that our SDN technology was chosen at the completion of a very competitive process."
In addition to announcing the Latin American contract, Elephant Talk released preliminary 4Q12 and 2012 results.