Elephant Talk Begins Recognizing Revenue from Five-Year Iusacell Contract Company Formally Executes Five-Year Contract with Iusacell Mexico for the Deployment of Elephant Talk's Software DNA™ Platform
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.
"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.
Martin Zuurbier CTO of Elephant Talk, stated, "With the on-time delivery of our GEO redundant platform, we completed a highly complex setup in record time. Our mobile Software DNA™ platform proves to be the best choice for MVNO's as they demand quite an extensive package of services and features. Additionally, our platform is also used more and more by MNO's for its highly flexible infrastructure. With GSM, LTE, 4G and CDMA in our platform, we can simplify the complete infrastructure needed by the MNO. We are excited to prove the features and benefits of our technology with Iusacell."
Throughout the past several years, Elephant Talk has committed substantial resources to create a fully self-contained Software DNA™ platform that processes big data thereby making it capable of controlling nearly 100% of the mobile telecommunications back office operations across multiple customer segments including pre- and post-paid, virtual, and direct customers.
About Elephant Talk:
Elephant Talk Communications Corp. (NYSE MKT: ETAK), is a leading international provider of mobile proprietary Software Defined Network Architecture (Software DNATM) platforms for the telecommunications industry that empower Mobile Network Operators (MNOs) and Mobile Virtual Network Operators (MVNOs), Enablers (MVNEs) and Aggregators (MVNAs) with a full suite of applications, Full OSS/BSS Systems, Delivery Platforms, Support and Managed Services, on-site, cloud, hybrid and S/PaaS solutions, including Network, Mobile Internet ID Solutions, Secure Remote Access Management, Loyalty Management and Transaction Processing Services, superior Industry Expertise and high quality Customer Service without substantial upfront investment. Elephant Talk counts several of the world's leading Mobile Operators amongst its customers including Vodafone, T-Mobile and Zain, and virtually all business is focused on tier 1 and tier 2 operators worldwide. Visit: www.elephanttalk.com.
Grupo Iusacell ("Iusacell" or "the Company") is the fastest-growing mobile communications carrier and third-largest operator overall in Mexico, serving 7.4 million wireless subscribers (as of 4Q12) throughout the country. Iusacell is owned jointly by Grupo Salinas, a prominent telecom & media, financial services and Mexican retail conglomerate, and Televisa, the largest Spanish-language media company worldwide. The inclusion of Televisa as a shareholder in Iusacell, which was formalized in June 2012, constitutes a critical turning point for the Company, as the joint sponsorship from these leading telecom & media companies provides Iusacell access to unique capabilities and differentiating features to capture market share in the Mexican mobile communications market. Visit: www.iusacell.com.
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to Elephant Talk's plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about Elephant Talk's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of Elephant Talk may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, Elephant Talk also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Additional information concerning certain risks and uncertainties that could cause actual results to differ materially from that projected or suggested is contained in Elephant Talk's filings with the Securities and Exchange Commission (SEC), copies of which are available from the SEC or may be obtained upon request from Elephant Talk.
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SOURCE Elephant Talk Communications Corp.