Awarded Multi-year Project to Supply IPE Solutions for Managing Tens of Millions of Subscribers
FREMONT, Calif., September 25, 2012—Procera Networks, Inc. (NASDAQ: PKT), the intelligent policy enforcement company, today announced it has received a multi-million dollar initial order from a Tier 1 mobile operator in the Asia Pacific region. This order is the first placed for a multi-year project to provide Procera’s leading edge Intelligent Policy Enforcement (IPE) solutions for network-wide deployment. The operator is experiencing rapid growth on its network, and will leverage Procera’s fine-grained analytics and advanced policy creation capabilities to drive new services for its mobile subscribers. Procera expects to recognize a portion of revenue related to this order in the third quarter of 2012, and that portion will represent greater than 10% of the company’s revenue in the quarter. This order brings Procera’s total number of mobile operator customers to more than 30.
“This mobile operator has seen a dramatic increase in video streaming of user generated and licensed content, as well as live broadcast programming,” said Brian Ahearn, senior vice president of worldwide sales at Procera. “This has driven the need to understand its subscribers’ video usage, in order to offer value-added video services that create incremental revenues over base data plan quotas and provide a consistently high quality of service. This is especially critical as the operator’s network incorporates 4G bandwidth speeds that encourage video streaming. This growing trend is ideally suited for Procera’s massively scalable IPE solutions to analyze and monetize.”
The carrier selected Procera after a rigorous evaluation process, and its primary reason for the selection was the ability of PacketLogicTM IPE solutions to scale to meet its needs today and in the future. The deployment requires high performance from the IPE solution deployed in-line as well as high scalability on the policy management control plane, with support required for tens of millions of subscribers.
About Procera Networks, Inc.
Procera Networks Inc. (NASDAQ: PKT) delivers Intelligent Policy Enforcement (IPE) solutions designed for carriers, service providers and high-end enterprises to enable proactive quality management; innovative service creation and delivery; detailed business analytics on network utilization and bandwidth consumption; and mitigate security threats. Procera's PacketLogic solutions deliver superior performance, scalability, and functionality to allow personalized services for millions of subscribers as part of the 3GPP Policy and Charging Control architecture. For more information, visit www.proceranetworks.com or follow Procera on twitter at http://twitter.com/proceranetworks.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements, including statements relating to the timing of revenue recognition and the ability of the products and solutions provided by Procera Networks, Inc. to meet the requirements of advanced communications networks and achieve customer acceptance for its products. These forward-looking statements involve risks and uncertainties, as well as assumptions that, if they do not fully materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements, including risks related to the acceptance and adoption of our products; our ability to service and upgrade our products; lengthy sales cycles and lab and field trial delays by service providers; our dependence on a limited product line; our dependence on key employees; our ability to compete in our industry with companies that are significantly larger and have greater resources; our ability to protect our intellectual property rights in a global market; our ability to manufacture product quickly enough to meet potential demand; and other risks and uncertainties described more fully in our documents filed with or furnished to the Securities and Exchange Commission. More information about these and other risks that may impact Procera Networks’ business are set forth in our Form 10-K filed for the year ended December 31, 2011, and in the subsequently filed quarterly reports on Form 10-Q. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we assume no obligation to update these forward-looking statements.
Fran Lowe, Engage PR for Procera Networks, 510-748-8200 x225, firstname.lastname@example.org
Investor Relations Contact
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Procera’s Twitter handle is @proceranetworks