MSO Awards Multi-Million Dollar Initial Order for PacketLogic PL8920 Platforms
FREMONT, Calif., Dec. 18, 2012—Procera Networks, Inc. (NASDAQ: PKT), the global intelligent policy enforcement company, today announced it has received a multi-million dollar initial order from a Tier 1 multi-system operator (MSO) in the Middle East. This operator serves cable subscribers across its countrywide footprint as part of its residential triple play service offerings. This new service provider customer selected the PacketLogicTM PL8920 following extensive competitive product evaluation and testing that included many stand-alone and integrated competitors. Procera expects to begin to recognize the majority of revenue from this initial order in the fourth quarter of 2012.
"This MSO has seen dramatic increases in bandwidth usage on its network over the past two years and selected our Intelligent Policy Enforcement solution because it has proven it can scale to meet the kind of growth the operator is seeing in its network," said Paul Gracie, vice president of Europe, Africa, and the Middle East (EMEA) at Procera. "This customer was also looking for an analytics and enforcement solution that could help to deliver a very high QoE across its large subscriber population."
According to Analysys Mason's latest forecast report for the region, The Middle East and North Africa telecoms market: trends and forecasts 2012–2017, overall telecoms retail revenue in the region will increase from its 2011 level of USD 70.3 billion, to more than USD 96.3 billion by 2017. Network operators worldwide face huge growth in broadband traffic volumes and are looking to add analytics that transform how they optimize their network infrastructure investments and extend their business models to add incremental revenue streams. The key to the realization of these operator goals is to make their networks more intelligent. This intelligence not only enables operators to monitor bandwidth usage but also lets them see in real-time the characteristics of broadband traffic generated by their subscribers, and then profile that usage in order to create new services that subscribers demand.
About Procera Networks, Inc.
Procera Networks Inc. (NASDAQ: PKT) delivers Intelligent Policy Enforcement (IPE) solutions designed for carriers, service providers and high-speed enterprises worldwide 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 @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.
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