Ceragon continues to bring innovative wireless connectivity
solutions to Private Networks for new and existing customers across
the Energy Vertical
ROSH
HA'AIN, Israel,
May 2,
2024 /PRNewswire/ -- Ceragon Networks
Ltd. (NASDAQ: CRNT), the global innovator and leading
solutions provider of 5G wireless solutions, today announced the
finalization of several new deals serving the energy industry
across multiple regions during Q1 2024. The cumulative deal value
is worth nearly USD 10 million, the
highest-ever quarterly booking for this sector. These strategic
energy deals underscore Ceragon's pivotal role in accelerating
digital transformation within the energy industry, enabled by
advanced connectivity solutions.
FPSO Connectivity
Notably, Ceragon will execute a network upgrade for a major
player within the Oil and Gas sector, deploying its
state-of-the-art PointLink technology across multiple Floating
Production Storage and Offloading (FPSO) units. This modernization
initiative is intended to optimize the client's operational
framework by significantly elevating data transmission speeds and
reliability, thus enhancing operational agility at reduced
costs.
Natural Gas Pipeline Connectivity
In another significant transaction, Ceragon booked a
multimillion-dollar deal with a new customer for a key component of
national energy infrastructure – a Natural Gas Pipeline extending
over 1,600 kilometers. This network enhancement project is vital
for enabling sophisticated remote monitoring and control, which is
essential for maintaining operational excellence in handling this
critical infrastructure.
Fleet of Vessels
Ceragon will be providing stabilized offshore connectivity for a
fleet of vessels transporting minerals from shallow water ports to
deep water vessels 40km from shore. Leveraging Ceragon's remarkably
reliable stabilized PointLink solution will ensure high-capacity
low-latency connectivity even in the harshest maritime
environments.
Doron Arazi, CEO of Ceragon
Networks, commented, "Our pursuit of private network
opportunities is delivering impressive results, specifically in the
global energy segment which is important for us. These strategic
deals not only exemplify Ceragon's growing influence in the global
energy sector but also our commitment to driving digital
transformation through innovative wireless connectivity solutions.
The energy sector represents a significant growth opportunity for
Ceragon, with non-traditional customers seeking advanced
connectivity in different operational and business models including
managed services."
About Ceragon Networks
Ceragon Networks Ltd. (NASDAQ: CRNT) is the global innovator and
leading solutions provider of 5G wireless transport. We help
operators and other service providers worldwide increase
operational efficiency and enhance end customers' quality of
experience with innovative wireless backhaul and fronthaul
solutions. Our customers include service providers, public safety
organizations, government agencies and utility companies, which use
our solutions to deliver 5G & 4G broadband wireless
connectivity, mission-critical multimedia services, stabilized
communications, and other applications at high reliability and
speed.
Ceragon's unique multicore technology and disaggregated approach
to wireless transport provides highly reliable, fast to deploy,
high-capacity wireless transport for 5G and 4G networks with
minimal use of spectrum, power, real estate, and labor resources.
It enables increased productivity, as well as simple and quick
network modernization, positioning Ceragon as a leading solutions
provider for the 5G era. We deliver a complete portfolio of turnkey
end-to-end AI-based managed and professional services that ensure
efficient network rollout and optimization to achieve the highest
value for our customers. Our solutions are deployed by more than
600 service providers, as well as more than 1,600 private network
owners, in more than 130 countries. For more information please
visit: www.ceragon.com
Ceragon Networks® and FibeAir® are registered trademarks of
Ceragon Networks Ltd. in the United
States and other countries. CERAGON ® is a trademark of
Ceragon Networks Ltd., registered in various countries. Other names
mentioned are owned by their respective holders.
Ceragon's public filings are available on the SEC's website at
www.sec.gov and may also be obtained from Ceragon's website at
www.ceragon.com.
Safe Harbor
This press release contains statements that constitute
"forward-looking statements" within the meaning of the Securities
Act of 1933, as amended and the Securities Exchange Act of 1934, as
amended, and the safe-harbor provisions of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements are
based on the current beliefs, expectations and assumptions of
Ceragon's management about Ceragon's business, financial condition,
results of operations, micro and macro market trends and other
issues addressed or reflected therein. Examples of forward-looking
statements include, but are not limited to, statements regarding
the benefits of the transaction as well as statements regarding the
companies' products, prospects and results following the
transaction. You may identify these and other forward-looking
statements by the use of words such as "may", "plans",
"anticipates", "believes", "estimates", "targets", "expects",
"intends", "potential" and similar expressions, or the negative of
such terms, or other comparable terminology (although not all
forward-looking statements contain these identifying words that are
intended to identify forward-looking statements).
Although we believe that the expectations reflected in such
forward-looking statements are based upon reasonable assumptions,
we can give no assurance that our expectations will be obtained or
that any deviations therefrom will not be material. Such
forward-looking statements involve known and unknown risks and
uncertainties that may cause the actual results, performance, or
achievements to be materially different from any future results or
performance to differ materially from those anticipated, expressed
or implied by such forward-looking statements. These risks and
uncertainties include, but are not limited to: the risk that the
anticipated benefits of the transaction may not be realized on the
contemplated timeframe or at all, which may adversely affect the
company's businesses and the price of Ceragon's traded securities;
the effects of global economic trends, including recession, rising
inflation, rising interest rates, commodity price increases and
fluctuations, commodity shortages and exposure to economic
slowdown; risks associated with delays in the transition to 5G
technologies and in the 5G rollout; the effect of the evolving
nature of the war situation in Israel and the related evolving regional
conflicts; and such other risks, uncertainties and other factors
that could affect our results of operation, as further detailed in
Ceragon's most recent Annual Report on Form 20-F, as published on
March 21, 2024, and in Ceragon's
other filings with the Securities and Exchange Commission
("SEC") as well as other documents that may be subsequently filed
by Ceragon from time to time with the SEC.
We caution you not to place undue reliance on forward-looking
statements, which speak only as of the date hereof. Ceragon does
not assume any obligation to update any forward-looking statements
in order to reflect events or circumstances that may arise after
the date of this release unless required by law.
Ceragon's public filings are available on the SEC's website at
www.sec.gov and may also be obtained from Ceragon's website at
www.ceragon.com.
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Investor & Media Contact:
Rob Fink
FNK IR
1+646-809-4048
crnt@fnkir.com
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SOURCE Ceragon Networks Ltd.