Actelis Receives Software and Service Contract Renewal of Nearly $1.5 Million From Major North American Customer

Rhea-AI Summary

Actelis Networks, Inc. (NASDAQ:ASNS) has secured a software and service contract renewal worth nearly $1.5 million from a major North American customer. The agreement primarily covers licensed access to Actelis' Element Management Software System (EMS), a scalable platform for remote network management and device provisioning. The EMS solution offers:

- Automated configuration and software upgrades
- Robust configuration management
- Real-time event notifications and email alerts
- Support for various network configurations
- Integration with third-party systems

The contract also includes technical support and extended warranty services. This renewal follows recent wins in the military, energy, and intelligent transportation sectors, showcasing Actelis' ability to support large-scale critical IoT infrastructure networks.

Positive

• Secured a $1.5 million contract renewal from a major North American customer
• Demonstrates customer trust and satisfaction with Actelis' software and services
• Provides recurring revenue through software licensing and support services
• Showcases ability to support large-scale critical networks across multiple states
• Recent wins in military, energy, and intelligent transportation sectors indicate market expansion

Negative

• None.

FREMONT, Calif., July 15, 2024 (GLOBE NEWSWIRE) -- Actelis Networks, Inc. (NASDAQ:ASNS) (“Actelis” or the “Company”), a market leader in cyber-hardened, rapid deployment networking solutions for IoT applications, today announced that it has received an approximately $1.5 million software and service order from a major customer based in North America. Recently, Actelis announced significant critical IoT infrastructure wins in the military and energy sectors as well as in the intelligent transportation space. This new order showcases Actelis’ ability to support critical large-scale networks with a powerful management system and first-class technical support.

This agreement provides software and support for a large network across several states. The core of the agreement is licensed access to Actelis’ Element Management Software System (EMS), a highly scalable platform that provides a host of tools to remotely and securely monitor and manage network devices, and remotely provision new devices for fast deployment. Actelis’ EMS solution enables fast “time to service” with automated configuration and software upgrades, as well as offering robust configuration management, helping customers easily manage inventory, firmware, and software backups. EMS also gives customers all the tools they need to monitor the status of their networks including real-time event notifications, email alerts, and a wide range of reports.

Actelis’ EMS supports a variety of network configurations including ring, star, and drop and continue, and gives clients multiple interfaces with which to manage their network, such as network tree and topology map views. The system can be easily integrated with third party network management systems to give customers even more flexibility to monitor and support their networks.

In addition to EMS, the agreement provides the customer with technical support from Actelis’ expert technical team, as well as extended warranty services.

“Once again, this renewal agreement demonstrates the trust that major customers have in us, and the value we bring to their operation,” said Tuvia Barlev, Chairman and CEO of Actelis. “Our software technology and best-in-class customer service has allowed us to achieve high customer satisfaction for some of the largest critical network operators around the world.”

About Actelis Networks, Inc.

Actelis Networks, Inc. (NASDAQ: ASNS) is a market leader in cyber-hardened, rapid-deployment networking solutions for wide-area IoT applications including federal, state and local government, ITS, military, utility, rail, telecom and campus applications. Actelis’ unique portfolio of hybrid fiber-copper, environmentally hardened aggregation switches, high density Ethernet devices, advanced management software and cyber-protection capabilities, unlocks the hidden value of essential networks, delivering safer connectivity for rapid, cost-effective deployment. For more information, please visit www.actelis.com.

Forward-looking Statements

This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results to differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company's filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.

Media Contact:
Sean Renn
Global VP Marketing & Communications
srenn@actelis.com

Investor Relations Contact:
Actelis Networks, Inc.
ASNS@actelis.com

FAQ

What is the value of Actelis Networks' recent contract renewal?

Actelis Networks (NASDAQ:ASNS) received a software and service contract renewal worth nearly $1.5 million from a major North American customer.

What does the Actelis Networks contract renewal include?

The contract renewal includes licensed access to Actelis' Element Management Software System (EMS), technical support from Actelis' expert team, and extended warranty services.

What are the key features of Actelis Networks' Element Management Software System (EMS)?

Actelis' EMS offers automated configuration, software upgrades, configuration management, real-time event notifications, email alerts, support for various network configurations, and integration with third-party systems.

In which sectors has Actelis Networks (ASNS) recently won contracts?

Actelis Networks has recently announced significant wins in the military, energy, and intelligent transportation sectors for critical IoT infrastructure.