Ceragon acquires new customer in India set to deploy its new, innovative ultra-compact energy-efficient radio in tens of thousands of new sites, including managed services

Rosh Ha'ain, Israel – Ceragon Networks Ltd. (NASDAQ: CRNT), the global innovator and leading solutions provider of 5G wireless transport, today announced it has signed an agreement with a global integrator, in support of a network modernization project for a Tier 1 Operator in India. As stipulated in the agreement, Ceragon will support a massive modernization project focused on upgrading existing network capabilities, expanding capacity, improving country-wide connectivity, and delivering services that meet, and even exceed, India’s growing needs.

This brand-new customer of Ceragon will be the first to deploy its newest solutions. The agreement, valued at approximately $150 million, comprises planning, product delivery and deployment services, as well as a multi-year contract for Ceragon’s Managed Services that covers day-to-day monitoring, management, and maintenance oversite of the microwave and mmW (millimeter wave) network. The actual value of the agreement may vary by an increase or decrease of up to 25%, depending upon the actual deployment requirements during project roll-out. Ceragon is expected to begin delivery and deployment of the new sites in Q2 of 2024. Deployment is expected to complete within 7-9 quarters, with approximately 75% of the project value expected to be recognized in this timeframe. The remaining approximately 25% of the contract value is for Managed Services & Maintenance and is expected to start being recognized within a year from deployment, respectively.

Ceragon collaborated with a large Global Integrator, that is overseeing the multi-billion network modernization project for the Tier 1 Operator. The integrator worked with Ceragon to ensure the microwave and mmW solution portion met the stringent Tier 1 Operator’s requirements. All new microwave sites will utilize Ceragon’s new ultra-compact, energy-efficient all-outdoor radio. In addition, several thousand mmW sites will be deployed using Ceragon’s E-Band product.

Doron Arazi, Ceragon CEO, commented, “The scale and scope of this project reaffirms Ceragon’s strong brand recognition as an innovative and trustworthy partner in the wireless transport space. We are excited to take part in providing the citizens of India with the future-friendly connectivity they need.”