Turnium Technology Group Inc. announced that it has signed a 5-year OEM licensing agreement with a large technology group and service provider in South-East Asia. The new 5-Year OEM licensing agreement with the South-East Asian service provider, signed on July 18, 2023, will activate across Indonesia initially. Turnium will capture a major business market where the Service Provider intends to expand their Enterprise and Government offerings to deliver reliability, better bandwidth, and failover with secure connectivity to multiple mission critical sites.

This new licensing agreement further confirms that Turnium's solution is Government and Enterprise grade, which is being actively sold in similar customer market segments worldwide. Turnium continues to gain momentum and capture market share, with this news release coming fresh off of the September 12th announcement where Turnium contracted with UK-based SDWAN & SASE Solutions. This 3-year contract, signed on May 23, 2023, has the potential to increase revenue by $24 million over the next two years, on a $2 million in monthly recurring revenue (MRR) basis with gross margins greater than 80%.

The SD-WAN market is expected to increase at a 31.6% CAGR from USD 3.4 billion in 2022 to USD 54 billion in 2032, according to Future Market Insights Inc. Turnium's Global Partnership Program continues to add fresh growth opportunities that are translating into major contract agreements and wins, as announced on August 24th in the new Go-To-Market AI and Smart Connectivity Solutions. With a refreshed offering, major new customers being onboarded, and the removal of a $2 million debt burden, the Company is focused on growth and contract fulfilment, as well as the potential merger with ActivePort - the indicative terms of the non-binding LOI were originally announced on April 3, and May 5, 2023.