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TELES: Purchase of Class 5 Softswitch Technology

This information is released pursuant to Section 13 Subsection 1 and Section 15 Subsection 1 of the Investor Protection Improvement Act (AnSVG).

Today, the Board of TELES AG decided to purchase from a major Austrian group the business segment for development, production and sales of "Class 5 Softswitch" solutions as an asset deal for a very low single-digit million purchase price.

The final acquisition is subject to the Supervisory Board approval.

This acquisition is ideal to complement TELES range of products for Next Generation Networks and it is also a basis for the development of very powerful comparable systems. Class 5 products are already in use with several –also well-known – customers.

Prof. Dr.-Ing. Sigram Schindler
CEO of TELES AG