Artilium : Contract extension Telenet

Artilium secures major contract upgrade and extension from largest customer Telenet

Artilium is pleased to announce that it has secured an expanded MVNE platform agreement with its largest customer, Telenet Group BVBA ('Telenet'), securing the relationship for the next five years.

Highlights:

· Expanded MVNE Contract to deliver innovative MVNO services over the next five years

· New ARTA Bill® solution available to Telenet Group

· Contract extension includes a cash payment to be effected this month of €5.3 million

Telenet has decided, given the importance of the partnership and their overall satisfaction with Artilium's solutions, to make a commitment to Artilium for the services it is due to receive over the next five years. As part of the extension, Artilium has secured a cash payment to be effected this month of €5.3 million for revenue which will be recognized in equal installments over the next five years.

As part of this contract extension, Telenet will also get access to the newly developed ARTA Bill® solution. ARTA Bill® is Artilium's high-throughput business solution to automate and streamline MVNE/MVNO billing & invoicing processes. It bridges the gap between the real-time telecom production platform and third-party ERP invoicing systems. ARTA Bill® is part of Artilium's growing suite of billing & invoicing solutions.

Bart Weijermars, CEO, commented: 'This commitment by Telenet Group clearly shows that Artilium delivers high-quality innovative solutions to its customers. Based on this positive result with our most significant customer, we feel confident that we can further expand our managed services business. We will continue developing new innovative offerings.'