News - cyan defends leading market position in Latin America and signs contract with Virgin Mobile06/07/2020
DGAP-News: cyan AG / Key word(s): Alliance
cyan defends leading market position in Latin America and signs contract with Virgin Mobile
Munich, July 6, 2020 - cyan and Virgin Mobile have significantly expanded their long-standing cooperation and signed a contract for the acquisition of 83 million end user licenses. Under this agreement, cyan will provide the complete technology to operate an MVNO including security offerings. The contract covers the countries Mexico, Colombia and Chile and has a term of five years. Parts of the license revenues will already be recognized in the 2nd quarter of 2020.
Virgin Mobile Group is the leading MVNO in Mexico, Colombia and Chile and serves several million end customers in these three countries. Under the expanded agreement, cyan will also provide Virgin Mobile with BSS/OSS platform solutions with seamless security, which are among the most flexible and fastest on the market, to optimally support Virgin Mobile's further growth.
Peter Arnoth, CEO cyan AG: "This contract with Virgin Mobile is a strong sign of confidence in the performance of our company and our products. On the one hand we extend the contract with this important customer for another five years, on the other hand we extend the scope of services by our security products. This allows us to impressively confirm our market position as number one in the dynamic Latin American market".
About Virgin Mobile:
Virgin Mobile is the brand name of numerous mobile operators in Europe, North America, South and Latin America, Asia and Australia. Virgin Mobile has been active in Latin America since 2012 and is one of the leading mobile operators in Chile, Mexico and Colombia.
cyan AG (XETR: CYR) is a leading, globally active provider of intelligent IT security solutions and telecom services with more than 15 years of experience in the IT industry. The main business areas of the company are cybersecurity solutions for end customers of mobile and fixed network internet service providers (MNO), virtual mobile network operators (MVNO) as well as banks and insurance companies. cyan's solutions are integrated into the business partner's infrastructure and then offered to their end customers ("B2B2C") under their name ("white-labeled").
Today, the group of companies has more than 50 international customers, through which cyan prod-ucts are sold to approximately 50 million end customers. cyan can offer products along the entire value chain from platform, data optimization to cyber security. In addition, cyan operates its own Research & Development Centre with the aim of identifying trends in the industry at an early stage and developing optimal product solutions. In December 2018, cyan was able to win a global group contract with Orange in an international tendering process. cyan's cooperation partners include the world's leading insurance broker Aon or Magenta Telekom.
Further information is available at www.cyansecurity.com.
Florian Rukover, Head of IR
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