cyan further expands its presence in Latin America and closes largest licensing agreement in cyan’s history with ACN Group / Flash Mobile
DGAP-News: cyan AG / Key word(s): Contract 13.11.2019 / 08:51 cyan further expands its presence in Latin America and closes largest licensing agreement in cyan’s history with ACN Group / Flash Mobile
Munich, 13 November, 2019 – cyan and ACN (Flash Mobile) have built upon their existing collaboration and signed a contract for 60 million end customer licenses. cyan provides the technology and embedded security features required to operate an MVNO, while Flash Mobile focuses on sales and marketing to its end customers. The ACN Group is already represented in the Colombian and Mexican markets with its Flash Mobile brand and is now planning to enter Peru and other Latin American markets. As part of this expansion, the partnership with cyan has been significantly stepped up via an extended license agreement. The contract will generate a significant revenue contribution for cyan, beginning in the fiscal year 2019. Peter Arnoth, CEO cyan AG: “We are very pleased to have won Flash Mobile for this long-term contract. This is a great vote of confidence for cyan’s “all-in” product range and underlines our strategic orientation. The license agreement enables us to significantly expand our presence in the rapidly growing Latin American markets. Furthermore, the strengthened relationship with ACN emphasizes once again the strong growth opportunities for cyan, particularly outside of Europe.” To fully capitalize on such growth opportunities, the management board of cyan AG has decided to evaluate potential options regarding its US Expansion Strategy. In this context, Lazard has already been mandated as an adviser. About Flash Mobile: About cyan Today, the group has more than 50 international customers, through whom cyan’s products are sold to around 8 million end customers. cyan offers a service along the entire value chain, from the platform to data optimization and cyber security. The company also operates its own research & development center with the goal of recognizing trends in the industry at an early stage and to create the best possible product solutions. In December 2018 cyan concluded a global group contract with Orange for its cyber security solutions. Cooperation partners include Aon, the world’s leading insurance broker, and Wirecard, the payment service provider. Further information is available at www.cyansecurity.com Investor Contact Florian Rukover, Head of IR Press Contact Frank Ostermair 13.11.2019 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
Language: | English |
Company: | cyan AG |
Friedrich-Herschel-Strasse 5 | |
80679 Munich | |
Germany | |
Internet: | www.cyansecurity.com |
ISIN: | DE000A2E4SV8 |
WKN: | A2E4SV |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Stuttgart, Tradegate Exchange |
EQS News ID: | 911555 |
End of News | DGAP News Service |