Procera Receives $1.4 Million Follow-on Order from Tier 1 US Cable MSO
FREMONT, Calif., Oct. 15, 2012—Procera Networks, Inc. (NASDAQ: PKT), the intelligent policy enforcement company, today announced it has received a $1.4 million follow-on order from an existing Tier 1 Cable Multi-System Operator (MSO) in the U.S. for its PacketLogicTM products and services. This recent order reflects the deployment momentum that Procera is experiencing across five of the top ten MSOs in the U.S. Procera solutions are currently installed in over 30 North American MSOs that represent an installed base of tens of millions of cable subscribers. As MSOs experience rapid growth in data usage on their networks and compete with alternative Internet access services and alternative Over-the-Top (OTT) sources for on-demand video and audio content, it is becoming even more strategic that their networks leverage Procera’s fine-grained analytics combined with advanced policy enforcement capabilities to drive innovative new services for their cable subscribers.
IDC anticipates that North American streaming video and audio traffic will grow from 50% of total fixed line traffic in 2011 to over 67% in 20151. In another report, Exploring the Effect of Explosive Video Growth on Carrier Infrastructure and Business Models2, IDC noted that over the past several years, OTT video has continued along a maturation process that has seen the market transition from the proliferation of user-generated content (UGC) offered on sites such as YouTube to increased use of download and streaming services such as iTunes and Netflix. IDC estimates that at the end of 2011, the number of users streaming video over fixed line networks reached 850 million worldwide. This number is forecast to grow to over 1.2 billion in 2015.
“Cable MSOs have seen a dramatic rise in their subscribers using OTT streaming video and audio over the last year and continue to look for ways to better analyze the impact of these services on their networks,” said David Ahee, Vice President of Sales Americas at Procera. “The usage profile of cable subscribers continues to evolve as they take advantage of high speed, fixed-line broadband networks that are capable of streaming a larger portion of their video and music programming. Cable operators are looking to maintain a very high quality of service for all of their customers while they access video and music programming through various content outlets.”
Procera Networks is proud to belong to the Society of Cable Telecommunications Engineers (SCTE) and will be attending the upcoming SCTE Cable-Tec Expo in Orlando on Oct. 17-18. To speak with a Procera representative and see a live product demonstration stop by Booth #414.
About Procera Networks, Inc.
Procera Networks Inc. (NASDAQ: PKT) delivers Intelligent Policy Enforcement (IPE) solutions designed for carriers, service providers and high-end enterprises to enable proactive quality management; innovative service creation and delivery; detailed business analytics on network utilization and bandwidth consumption; and mitigate security threats. Procera's PacketLogic solutions deliver superior performance, scalability, and functionality to allow personalized services for millions of subscribers as part of the 3GPP Policy and Charging Control architecture. For more information, visit www.proceranetworks.com or follow Procera on Twitter at @ProceraNetworks.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements, including statements relating to the ability of the products and solutions provided by Procera Networks, Inc. to meet the requirements of advanced communications networks and achieve customer acceptance for its products. These forward-looking statements involve risks and uncertainties, as well as assumptions that, if they do not fully materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements, including risks related to the acceptance and adoption of our products; our ability to service and upgrade our products; lengthy sales cycles and lab and field trial delays by service providers; our dependence on a limited product line; our dependence on key employees; our ability to compete in our industry with companies that are significantly larger and have greater resources; our ability to protect our intellectual property rights in a global market; our ability to manufacture product quickly enough to meet potential demand; and other risks and uncertainties described more fully in our documents filed with or furnished to the Securities and Exchange Commission. More information about these and other risks that may impact Procera Networks’ business are set forth in our Form 10-K filed for the year ended December 31, 2011, and in the subsequently filed quarterly reports on Form 10-Q. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we assume no obligation to update these forward-looking statements.
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1. IDC Worldwide Internet Broadband Bandwidth Demand 2012-2015 Forecast, doc #232596, February 2012.
2. IDC Exploring the Effect of Explosive Video Growth on Carrier Infrastructure and Business Models, doc #235433, June 2012.