Vonex wins wholesale contract from telco conglomerate Orange
February 5, 2021, by Alfred Chan
Telecommunications company Vonex (ASX: VN8) will soon get a significant boost in their network usage having signed global telco giant Orange Group (EPA: ORA) to a multi-year enterprise deal for mobile and internet products.
The agreement is with Orange Business Services and will see Vonex provide business-grade mobile broadband services in Australia to more than 3,000 multinational Orange clients.
“We are delighted to partner with Orange to support Orange Business Services’ expansion plans in Australia,” said Vonex Managing Director, Matt Fahey.
“Signing this agreement is testament to the growth and maturity of our offer to small, medium and enterprise customers, as we are seeing strong growth across both existing and newly-launched products,”
With a large network of multinational clients around the world, Orange already services enterprise customers in a range of industries such as automotive, mining, oil & gas and public sectors, including Internet of Things (IoT) connectivity for transport, logistics and smart cities. Headquartered in Paris, Orange trades with a market cap around €26 billion.
“With this agreement, Orange will offer enterprises the ability to combine NBN connectivity with wireless broadband services through one provider only,” Kevin Griffen, Orange Managing Director, Australasia.
“This will bring great simplicity as well as strong; fast and stable connection which were once reserved for MPLS and largest companies.”
This contract awarded by Orange Business Services continues strong momentum from Vonex’s wholesale decision which delivers mobile, internet, traditional fixed lines, and hosted PBX and VoIP services to new and existing telco customers.
For the Quarter ending 31 December 2020, Vonex reported cash receipts of $4.3m which represented an increase of 72% from the previous corresponding period.
VN8 shares responded very well to news of the Orange contract to open at $0.29 per share, a 13.7% rise on their previous $0.255 close.