Long-term Supply Contract Includes Deployment of new PacketLogic PL20000
FREMONT, Calif., Nov. 5, 2012—Procera Networks, Inc. (NASDAQ: PKT), the intelligent policy enforcement company, today announced a new multi-million dollar contract to provide a Western European Tier 1 incumbent service provider with Intelligent Policy Enforcement (IPE) solutions based on Procera’s award-winning PacketLogic™ platforms. This new service provider customer selected the PacketLogic PL20000 following extensive competitive product evaluation and testing that included many stand-alone and integrated competitors. The PL20000 is the industry’s highest performing IPE system with up to 320 Gbps of throughput configurable per platform. Procera expects to begin to recognize the revenue from an initial order in the first half of 2013.
"This is a very significant win for our company and validates the need for high performance as service providers move to 100 Gbps in their core,” said James Brear, CEO of Procera. “The PacketLogic PL20000 is the ideal choice to meet their business analytics needs and enable innovative policy-based services. Because of the PL20000’s industry leading throughput density, our solution makes it possible for this expansive customer to deploy the extensive network coverage needed with a fraction of the number of systems competitive offerings proposed.”
IDC reported that for 2011, end user generated fixed broadband Internet traffic volume reached a worldwide average bandwidth consumption of 26 GB per end user each month. IDC forecasts the demand for bandwidth to increase to 120 GB per end user per month by the end of 20151.
Network operators worldwide face this huge growth in broadband traffic volumes and are looking to add analytics that transform how they optimize their network infrastructure investments and extend their business models to add incremental revenue streams. The key to the realization of these operator goals is to make their networks more intelligent. This intelligence not only enables operators to monitor bandwidth usage but lets them see in real-time the characteristics of broadband traffic generated by their subscribers, and then profile usage in order to create new services that benefit subscribers.
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 the timing of revenue recognition, our ability to achieve acceptance from a significant new customer and 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.