Elephant Talk Completes Next Migration of Iusacell Subscribers in Mexico Migration is the second segment of subscribers planned to migrate onto ET's Software DNA™ 2.0 Platform
MEXICO CITY and OKLAHOMA CITY, June 26, 2014 /PRNewswire/ -- Elephant Talk Communications Corp. (NYSE MKT: ETAK) ("Elephant Talk" or "the Company"), a global provider of Software Defined Network Architecture (ET Software DNA™ 2.0) platforms and cyber security solutions, today announced that it has successfully migrated another group of Grupo Iusacell ("Iusacell") existing subscribers in Mexico onto its dedicated platform. Elephant Talk plans further migrations over the next couple of months, as Iusacell completes its transition by rolling out new services for its Mobile Network Operator ("MNO") and Mobile Virtual Network Operator ("MVNO") clients in the Mexican market.
Adrian Steckel, CEO of Iusacell, stated, "We are pleased to have successfully completed another important step in our migration program, which will see a total of approximately 5 million existing pre-paid customers on our GSM network migrated to the ET mobile platform over the next 60 to 90 days. Over the quarters thereafter, we will look to complete the last phase of the migration effort, when our entire remaining pre-paid, postpaid and MVNO customer portfolio will be migrated onto the Elephant Talk platform."
"With this migration completed we now have over 1.2 million Iusacell subscribers on our platform, which will have a positive impact on our second quarter and future financial results," commented Steven van der Velden, Chairman and CEO of Elephant Talk. "Based on the first two successful migrations we have completed, we are now confident of our planned migration schedule for the 8 million total Iusacell subscribers. We believe this migration will be a defining event for the entire industry, as we demonstrate the competitive advantages in service flexibility and cost savings that we are able to deliver to our mobile operator clients. These factors are expected to attract additional mobile customers to our platform."
Martin Zuurbier, Chief Technology Officer of Elephant Talk, added, "In close cooperation with Iusacell, we once again succeeded to migrate this specific group of Iusacell pre-paid subscribers without a single SIM-module having to be changed. That shows the resilience and strong capabilities of our ET Software DNA™ 2.0 platform. This performance confirms our confidence in our ability to migrate the remaining Iusacell subscribers."
Elephant Talk's ET Software DNA™ 2.0 platform incorporates virtualized software technologies and a hosted, outsourced cloud-based architecture that enables mobile network operators to manage all of their core network and service management functions in a single software solution. It is the only single software platform designed to support a capacity of over 10 million mobile subscribers and seamlessly provisioning of 2G/2,5G/3G/4G (LTE) and CDMA standards. The completion of the initial rollout of the Company's newly enhanced Software Defined Networking (SDN) platform known as Software DNA™ 2.0, was announced last February by Elephant Talk, at the start of the Mobile World Congress in Barcelona (Spain). With Elephant Talk, mobile carriers can significantly reduce capital investments in new hardware, eliminate the use of legacy software and hardware as well as reduce network operating and maintenance costs while benefiting from greatly improved flexibility and the ability to quickly deploy new services. Elephant Talk's ET Software DNA™ 2.0 platform is currently providing services to MNOs in four different countries.
About Elephant Talk
Elephant Talk Communications Corp. (NYSE MKT: ETAK), is a global provider of mobile proprietary Software Defined Network Architecture (Software DNA™ 2.0) platforms for the telecommunications industry. The company empowers Mobile Network Operators (MNOs), Mobile Virtual Network Operators (MVNOs), Enablers (MVNEs) and Aggregators (MVNAs) with a full suite of applications, superior Industry Expertise and high quality Customer Service without substantial upfront investment. Elephant Talk counts several of the world's leading Mobile Network Operators amongst its customers, including Vodafone, T-Mobile, Zain and Iusacell. 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 approximately 8 million wireless subscribers 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, including, without limitation, the ability of the Company to regain compliance with the listing standards of the NYSE MKT LLC. 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 those projected or suggested may be found in Elephant Talk's filings with the Securities and Exchange Commission (the "SEC"), copies of which are available from the SEC or may be obtained upon request from Elephant Talk.
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