Wins second largest initial orders in company history in highly competitive replacement deal
Fremont, Calif., August 27, 2014 — Procera Networks, Inc. (NASDAQ: PKT), the global Subscriber Experience company, today announced $5 million in initial orders from a Tier 1 European MSO that represents the second largest initial customer orders in company history. Procera was selected primarily due to its Subscriber Experience solutions that enable the multi-system operator (MSO) to deliver high quality broadband services even during times of heavy congestion. The Service Plan Assurance solution offered by Procera demonstrated a superior ability to pinpoint subscriber experience issues and resolve them in real time. Most of the revenue from the initial orders is expected to be recognized in the second half of 2014.
“Combining Internet Intelligence with location awareness and topology awareness in cable networks ensures that MSOs can maximize the efficiency of their infrastructure,” said Paul Gracie, senior vice president of global sales and services at Procera Networks. “Subscriber experience is often determined by how the network handles last mile congestion. Procera’s solutions give MSOs more flexible and compelling options on how to manage and optimize their available network resources.”
This MSO conducted extensive field testing of competitive products to replace the incumbent vendor. Procera was able to demonstrate all of the use cases that were requested by the customer using real traffic at high performance levels with all functionality activated in the PacketLogicTM solutions. Procera was also able to show superior visibility into the services running on their network through the use of its Insights analytics tools that leverage data from PacketLogic products deployed in their network.
Procera’s Service Plan Assurance solutions combine topology, location, subscriber, service, and application awareness to ensure that MSOs and other broadband operators can manage traffic fairly while delivering a high quality of experience to different consumer or business applications for subscribers. Consumers’ expectations of network quality include application-specific metrics – video stalls, voice latency, page load times, etc. – that can negatively impact their impression of the broadband provider. Network operators that have visibility into the experience being delivered to their subscribers and can provide transparent reporting to subscribers and regulators will more easily differentiate themselves from their competition.
About Procera Networks, Inc.
Procera Networks, Inc. (NASDAQ: PKT), the global Subscriber Experience company, is revolutionizing the way operators and vendors monitor, manage and monetize their network traffic. Elevate your business value and improve customer experience with Procera’s sophisticated intelligence solutions. For more information, visit http://www.proceranetworks.com or follow Procera on Twitter at @ProceraNetworks.
This press release contains forward-looking statements related to Procera Networks, Inc., including statements relating to Procera’s ability to fulfill orders received, the ability of its customers to cancel orders, the ability of its products and solutions to interoperate effectively with other technologies and meet the requirements of customers, the estimated future value of Procera’s recently awarded business and the expected timing for recognizing revenue from Procera’s recently awarded business. Statements in this release that are not historical or current facts are forward-looking statements. All forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause Procera’s actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. These risks and uncertainties include, without limitation, risks and uncertainties related to the acceptance and adoption of Procera’s products and solutions; its ability to service and upgrade its products; its dependence on a limited product line and key customers; its dependence on key employees; its ability to compete in our industry with companies that are significantly larger and have greater resources; its ability to protect its intellectual property rights in a global market; its ability to manufacture product quickly enough to meet potential demand; and other risks and uncertainties described more fully in Procera’s 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 described in the "Risk Factors" sections of its Form 10-K filed for the year ended December 31, 2013, its subsequently filed quarterly reports, and other reports filed with the SEC, which are available free of charge on the SEC's website at http://www.sec.gov or on Procera’s website at http://www.proceranetworks.com. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. All forward-looking statements in this press release are based on information available to Procera as of the date hereof, and the Company undertakes no obligation to update, amend or clarify any forward-looking statement for any reason.