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SOURCE Elephant Talk Communications Corp.
Initial customer migration is the first segment of 8 million subscribers planned to migrate in 2014
MEXICO CITY and OKLAHOMA CITY, Feb. 25, 2014 /PRNewswire/ -- Elephant Talk Communications Corp. (NYSE MKT: ETAK) ("Elephant Talk" or "the Company"), a global provider of Software Defined Network Architecture (Software DNA™ 2.0) platforms and cyber security solutions, today announced that it has successfully migrated the first 600,000+ Grupo Iusacell ("Iusacell") pre-paid subscribers in Mexico onto its dedicated platform. Elephant Talk expects significant additional migrations throughout March and into the next quarter, as lusacell completes its transition and begins to rollout new services for its mobile network operator ("MNO") and mobile virtual network operator ("MVNO") clients in the Mexican market.
Steven van der Velden, Chairman and CEO of Elephant Talk stated, "The migration of the first lusacell subscribers in Mexico is an important milestone for Elephant Talk and will play a critical part in our expected growth for 2014. We are confident in the world class capabilities and clear value proposition that our Software DNA™ 2.0 solution can provide mobile network operators like lusacell. Our company is excited to support the growth of Iusacell's user base and increase its service offerings."
Adrian Steckel, CEO of Iusacell, stated, "We are pleased to have completed the first phase of our migration program. This effort will see millions of existing pre-paid customers, postpaid customers and MVNOs transitioned to the new platform over the next quarter. By the end of 2014, we expect to have over approximately 8 million customers migrated to the Elephant Talk platform."
Elephant Talk's Software DNA™ 2.0 platform incorporates virtualized software technologies and a hosted, outsourced cloud-based architecture that enables mobile network operators to manage all of their core network and service management functions in a single software solution. It is the only single software platform designed to support a capacity of over 10 million mobile subscribers and seamlessly provisioning of 2G/2,5G/3G/4G (LTE) and CDMA standards. The completion of the initial rollout of the Company's newly enhanced Software Defined Networking (SDN) platform known as Software DNA™ 2.0, was announced yesterday by Elephant Talk, at the start of the Mobile World Congress in Barcelona (Spain). With Elephant Talk, mobile carriers can significantly reduce capital investments in new hardware, eliminate the use of legacy software and hardware as well as reduce network operating and maintenance costs while benefiting from greatly improved flexibility and the ability to quickly deploy new services. Elephant Talk's Software DNA™ 2.0 platform is currently providing services to MNOs in four different countries.
About Elephant Talk
Elephant Talk Communications Corp. (NYSE MKT: ETAK), is a global provider of mobile proprietary Software Defined Network Architecture (Software DNA™ 2.0) platforms for the telecommunications industry. The company empowers Mobile Network Operators (MNOs), Mobile Virtual Network Operators (MVNOs), Enablers (MVNEs) and Aggregators (MVNAs) with a full suite of applications, superior Industry Expertise and high quality Customer Service without substantial upfront investment. Elephant Talk counts several of the world's leading Mobile Network Operators amongst its customers, including Vodafone, T-Mobile, Zain and Iusacell. Visit: www.elephanttalk.com.
Grupo Iusacell ("Iusacell" or "the Company") is the fastest-growing mobile communications carrier and third-largest operator overall in Mexico, serving approximately 8 million wireless subscribers throughout the country. Iusacell is owned jointly by Grupo Salinas, a prominent telecom & media, financial services and Mexican retail conglomerate, and Televisa, the largest Spanish-language media company worldwide. The inclusion of Televisa as a shareholder in Iusacell, which was formalized in June 2012, constitutes a critical turning point for the Company, as the joint sponsorship from these leading telecom & media companies provides Iusacell access to unique capabilities and differentiating features to capture market share in the Mexican mobile communications market. Visit: www.iusacell.com.
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to Elephant Talk's plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about Elephant Talk's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict, including, without limitation, the ability of the Company to regain compliance with the listing standards of the NYSE MKT. Because such statements involve risks and uncertainties, the actual results and performance of Elephant Talk may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, Elephant Talk also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Additional information concerning certain risks and uncertainties that could cause actual results to differ materially from that projected or suggested is contained in Elephant Talk's filings with the Securities and Exchange Commission (SEC), copies of which are available from the SEC or may be obtained upon request from Elephant Talk.
Elephant Talk Communications Corp.
+ 1 813 926 8920
+ 1 212 398 3486
US: Michael Glickman
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