Teleste and Cybercom expand partnership on R&D activities


2009-03-23, 09:00
Data communications systems provider Teleste and Cybercom Plenware have reached an agreement about co-operation in R&D activities. The agreement covers two years.

Through the agreement Cybercom Plenware will manage parts of Teleste’s R&D activities. In addition 23 of Teleste's employees will join Cybercom’s staff with current terms.

"This gives us flexibility in resource planning, enables our future growth and gives us possibility to concentrate on our core business. We also strengthen our existing partnership with Cybercom", says Teleste CTO Esko Myllylä.

"We are very excited to expand our cooperation with Teleste, because this deal adds significantly to our competence of hardware design and Linux software development. We are also very happy that our partnership with Teleste rises to strategic level", says Cybercom Plenware CEO Hannu Meskanen.

"Teleste’s show of trust is very important for us and we see good potential in expanding our partnership going forward. Outsourcing contracts strengthens our relationships and gives our business long-term stability" says Patrik Boman, president and CEO, Cybercom Group.

Find out more, contact:

Patrik Boman, president and CEO, Cybercom Group
+46 73 983 89 79
Jukka Rinnevaara, CEO, Teleste Corporation
+358 2 2605 866 or +358 400 747 488
Esko Myllylä, CTO, Teleste Corporation
+358 2 2605 693 el. +358 40 554 0463
Hannu Meskanen, managing director, Cybercom Plenware
+35 8 50 14 87
Kristina Cato, communications director and IR manager, Cybercom Group
+46 708 64 47 02

About Cybercom
The Cybercom Group is a high-tech consultancy that offers global sourcing for end-to-end solutions. The Group established itself as a world-class supplier in security, portal solutions, mobile services, embedded systems, and telecom management. Thanks to its extensive industry and operations experience, Cybercom can offer strategic and technological expertise to these markets: telecom, industry, media, public sector, retail, and banking and financial services. The Group currently employs about 2000 persons and runs projects worldwide. Cybercom has 24 offices in 10 countries. Since 1999, Cybercom´s share has been quoted on the NASDAQ OMX Nordic Exchange. The company was launched in 1995. Find out more at: www.cybercomgroup.com.

About Teleste
Teleste is an international technology group founded in 1954, which is specialized in broadband data communication systems and solutions. The group is divided into two Strategic Business Units: Broadband Cable Networks and Video Networks. Broadband Cable Networks serves cable operators and a major part of its business activities are handled through direct customer contact. Video Networks supplies solutions for optical signal transmission and video network management software solutions for video surveillance and a major part of its business is handled through system integrators. Both Business Units are among the leading providers in their market areas and are globally recognized for their know-how and ability to produce technically cutting edge solutions year after year. In 2008 the group's net sales totalled EUR 109 million and the group employed 677 persons at the year-end. The company has approximately 30 offices world-wide and over 90% of Teleste's net sales are generated outside Finland. The company is listed on the NASDAQ OMX Helsinki Ltd.
Visit www.teleste.com for more information.

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