News Detail - Cyan Security

cyan AG and Grameenphone extend and expand partnership

DGAP-News: cyan AG/ Key word(s): Alliance
19.01.2021 / 08:30
The issuer is solely responsible for the content of this announcement.

cyan AG and Grameenphone extend and expand partnership

- Contract signed for 100% additional licenses to expand user base

- Partnership extended for at least five years

- Ambitious customer growth planned

Munich, January 19, 2021 - cyan AG and Grameenphone Ltd, the leading telecommunications service provider in Bangladesh, have extended their partnership for at least another five years and signed a corresponding contract. The cooperation focuses on the dynamic Skitto product brand, which offers purely digital services at low tariffs and is aimed at young people, students and digital natives in Bangladesh.

Grameenphone plans to double the number of Skitto's end customers by the end of 2021. In addition, the clear goal is to reach a customer base in the double-digit millions in the following years. The mobile market in Bangladesh is extremely dynamic. With a population of 164 million, Bangladesh has more mobile connections than inhabitants, at 170 million. By comparison, in 2012 the figure was 86.5 million connections (Source: BTRC, UNFPA).

Frank von Seth, CEO of cyan AG: "We are very pleased to announce the extension of a greatly expanded contract with our partner Skitto. This is a confirmation of our technically optimally implemented platform for this young brand, which today already serves more than one million customers in the 4G mobile standard. This contract extension is an important signal for our brand presence in Asia and a great sign of trust in cyan as a long-term oriented partner."

About Grameenphone
Grameenphone, part of the Telenor Group, is a leading telecommunications service provider in Bangladesh with more than 79 million subscribers. Since its establishment in 1997, Grameenphone has built the country's largest mobile network, covering nearly 95 percent of the country's population. Grameenphone is listed on the Dhaka Stock Exchange.

About cyan
cyan AG (XETR: CYR) is a leading, globally active provider of intelligent IT security solutions and telecom services with more than 15 years of experience in the IT industry. The main business areas of the company are cybersecurity solutions for end customers of mobile and fixed network internet service providers (MNO), virtual mobile network operators (MVNO) as well as banks and insurance companies. cyan's solutions are integrated into the business partner's infrastructure and then offered to their end customers ("B2B2C") under their name ("white-labeled").

Today, the group of companies has more than 50 international customers, through which cyan prod-ucts are sold to approximately 50 million end customers. cyan can offer products along the entire value chain from platform, data optimization to cyber security. In addition, cyan operates its own Research & Development Centre with the aim of identifying trends in the industry at an early stage and developing optimal product solutions. In December 2018, cyan was able to win a global group contract with Orange in an international tendering process. cyan's cooperation partners include the world's leading insurance broker Aon or Magenta Telekom.

Further information is available at www.cyansecurity.com

 

Investor Contact:
cyan AG
Tel. +49 89 71042 2073
E-mail: ir@cyansecurity.com

Press Contact:
Better Orange IR & HV AG
Tel. +49 89 88 96 906 17
E-mail: anita.schneider@better-orange.de



19.01.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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