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Elephant Talk Begins Recognizing Revenue From Five-Year Iusacell Contract

Stocks in this article: ETAK

MEXICO CITY, Sept. 10, 2013 /PRNewswire/ -- Elephant Talk Communications Corp. (NYSE MKT: ETAK), ( www.elephanttalk.com), a leading international provider of proprietary Software Defined Network Architecture (Software DNA™) platforms that process big data for the telecommunications industry that empower Mobile (Virtual) Network Operators (MNOs and MVNOs) and a market leader in providing cyber security solutions to counter electronic fraud in the cloud, today announced that it has begun to recognize revenue from its recently signed five-year contract with Iusacell, an innovative Mobile Network Operator (MNO) in Mexico. 

(Logo: http://photos.prnewswire.com/prnh/20120917/MM75872LOGO)

"We are pleased that we have initiated the five-year contract with Iusacell and have already begun to recognize these revenues from our Mexican platform," stated, Steven van der Velden, Chairman and CEO of Elephant Talk. "With the installation phase being finalized, we are now shifting our focus towards the implementation and initiation of servicing Iusacell customers."

Adrian Steckel, CEO of Iusacell, stated, "We are extremely pleased that we can now fully concentrate on migrating our first 1.5 million customers (SIMs) to the ET platform as we offer new services in the Mexican market.  Iusacell and our clients will greatly benefit from the additional services and solutions that Elephant Talk's Software Defined Network Architecture (Software DNA™) platform provides. We look forward to a broader roll out in 2014 with Elephant Talk, as we plan to add a substantial number of SIMs to the platform after the initial 1.5 million subscriber migration is completed. This is an important strategic step for Iusacell, as it allows us to drastically grow our customer base in the years ahead."

The first commercial SIMs on the platform will be new retail customers of Iusacell itself, followed by the migration of existing Iusacell customers later this year.  With an initial capacity of over 10 million mobile subscribers, Elephant Talk's Software DNA™ platform has the capability to scale to more than 20 million users.

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