A Leading US Service Provider, Selects Ceragon Networks for Multi-Year Managed Services Agreement
Ceragon Networks (NASDAQ: CRNT) has secured a multi-year managed services agreement with a leading US network service provider, enhancing its wireless connectivity offerings. This partnership will leverage Ceragon's expertise in wireless transport networks to optimize operations and maintenance. The managed services will incorporate AI-driven tools, improving efficiency and customer satisfaction. The telco managed services market is projected to grow over 13% annually from 2021 to 2028, presenting a significant growth opportunity for Ceragon.
- Secured multi-year managed services agreement with major US service provider.
- Utilization of AI-driven tools like CeraMonitor and Netmaster enhances network performance.
- Access to a growing telco managed services market, projected to grow over 13% annually.
- Reliance on a significant portion of business from a few customers, particularly in India.
- Potential risks due to global semiconductor shortages affecting product delivery timelines.
LITTLE FALLS, N.J., July 7, 2021 /PRNewswire/ -- Ceragon Networks Ltd. (NASDAQ: CRNT), the global innovator and leading solutions provider of 5G wireless transport, announced today it has been awarded a multi-year managed services agreement by a leading network service provider in the US. The service provider focuses on delivering a comprehensive suite of connectivity services to enterprise customers leveraging its fiber optic network. As part of its growth plans, it recently expanded its offering to include wireless connectivity, broadening its portfolio of broadband access and cloud solutions. The service provider will utilize Ceragon's managed services to improve the performance of its newly acquired wireless network, ensuring a smooth transition and optimal management, with a preventive maintenance approach for predictable OPEX.
Doron Arazi, CEO Ceragon Networks, commented: "Ceragon is thrilled to operate and maintain this service provider's wireless transport network. Our expertise and vast experience in designing, developing, deploying, managing, and supporting worldwide wireless transport networks makes us the optimal wireless end-to-end integrator and managed services player. Multiple market research sources indicate that the telco managed services market is expected to grow at an annual rate of more than
Ceragon's managed services offering is part of its global end-to-end services portfolio and will include operations and maintenance of the service provider's wireless transport network. Highly flexible and adaptable, Ceragon's managed services leverage its AI-rich CeraMonitor and Netmaster software tools with Ceragon's global Network Operating Center (NOC). These capabilities combined with Ceragon's regional network of highly trained resources provide this service provider, as well as other worldwide customers, significant network efficiency and improved performance while increasing customer satisfaction.
About Ceragon Networks
Ceragon Networks Ltd. (NASDAQ: CRNT) is the global innovator and leading solutions provider of 5G wireless transport. We help operators and other service providers worldwide increase operational efficiency and enhance end customers' quality of experience with innovative wireless backhaul and fronthaul solutions. Our customers include service providers, public safety organizations, government agencies and utility companies, which use our solutions to deliver 5G & 4G broadband wireless connectivity, mission-critical multimedia services, stabilized communications, and other applications at high reliability and speed.
Ceragon's unique multicore technology and disaggregated approach to wireless transport provides highly reliable, fast to deploy, high-capacity wireless transport for 5G and 4G networks with minimal use of spectrum, power, real estate, and labor resources. It enables increased productivity, as well as simple and quick network modernization, positioning Ceragon as a leading solutions provider for the 5G era. We deliver a complete portfolio of turnkey end-to-end AI-based managed and professional services that ensure efficient network rollout and optimization to achieve the highest value for our customers. Our solutions are deployed by more than 400 service providers, as well as more than 800 private network owners, in more than 150 countries. For more information please visit: www.ceragon.com
Safe Harbor
Ceragon Networks® and FibeAir® are registered trademarks of Ceragon Networks Ltd. in the United States and other countries. CERAGON ® is a trademark of Ceragon Networks Ltd., registered in various countries. Other names mentioned are owned by their respective holders.
This press release contains statements that constitute "forward-looking statements" within the meaning of the Securities Act of 1933, as amended and the Securities Exchange Act of 1934, as amended, and the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on the current beliefs, expectations and assumptions of Ceragon's management about Ceragon's business, financial condition, results of operations, micro and macro market trends and other issues addressed or reflected therein. Examples of forward-looking statements include: projections of demand, revenues, net income, gross margin, capital expenditures and liquidity, competitive pressures, order timing, growth prospects, product development, financial resources, cost savings and other financial and market matters. You may identify these and other forward-looking statements by the use of words such as "may", "plans", "anticipates", "believes", "estimates", "targets", "expects", "intends", "potential" or the negative of such terms, or other comparable terminology.
Although we believe that the projections reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations therefrom will not be material. Such statements involve risks and uncertainties that may cause future results to differ materially from those anticipated. These risks and uncertainties include, but are not limited to, the effects of general economic conditions, the effect of the COVID-19 crisis on the global markets and on the markets in which we operate, including the risk of a continued disruption to our and our customers', providers', business partners and contractors' business and operations as a result of the COVID-19 pandemic effects and the restrictions on operations created thereby, and of an adverse effect on our and our customers' financial performance, cash flow, revenue and financial results, available cash and financing, and our ability to bill and collect amounts due from our customers as a result therefrom; the risk of components shortage due to the global shortage in semiconductors and chipsets, which could cause delays in deliveries of our products and delays in the deployment of wireless communication networks by our customers, slowdowns and other adverse effects on our industry; the risks relating to the concentration of a significant portion of Ceragon's expected business in certain countries and particularly in India, where a small number of customers are expected to represent a significant portion of our revenues; risks associated with any failure to meet our product development timetable; the risk that the rollout of 5G services could take longer or be performed differently than anticipated and such other risks, uncertainties and other factors that could affect our results, as further detailed in Ceragon's most recent Annual Report on Form 20-F and in Ceragon's other filings with the Securities and Exchange Commission.
Such forward-looking statements, including the risks, uncertainties and other factors that could affect our results, represent our views only as of the date they are made and should not be relied upon as representing our views as of any subsequent date. Such forward-looking statements do not purport to be predictions of future events or results and there can be no assurance that it will prove to be accurate. Ceragon may elect to update these forward-looking statements at some point in the future but the company specifically disclaims any obligation to do so except as may be required by law.
Ceragon's public filings are available on the Securities and Exchange Commission's website at www.sec.gov and may also be obtained from Ceragon's website at www.ceragon.com.
Ceragon Investor & Media Contact:
Maya Lustig
Ceragon Networks
Tel. +972-54-677-8100
mayal@ceragon.com
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SOURCE Ceragon Networks Ltd
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