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Freshtel To Co-Develop Hardware |
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Written by Adam Gosling
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Tuesday, 07 February 2006 |
Freshtel has signed an agreement with the Hong Kong-based Binatone Telecom Group to co-develop internet telephone hardware.
Established in 1958, Binatone, is the world’s second largest digital cordless phone manufacturer with market share in excess of 25% across the UK and Europe.
The agreement will see Freshtel provide the software and designs, while Binatone will assume responsibility for the funding, manufacture and distribution of the hardware to its existing customer base. Freshtel will receive a share of all sales revenue from the sale of hardware.
Freshtel is making good headway with its network services in Europe, recently announcing that major retailer Tesco is providing anew consumer broadband phone service based on Freshtel’s white label VoIP network.
“Binatone, is a key player in the UK and Europe and this year will enter the US and Indian telecommunications markets. This agreement opens the doors for Freshtel to offer its Internet telephony solutions to Binatone’s major customer base in over 44 countries around the world, including some of the world’s largest retailers such as Wal-Mart and Carrefour in Europe,” said Michael Carew, CEO, Freshtel Holdings.
“This is also a significant strategic step for Freshtel, because it demonstrates that we are not seeking to become the manufacturer of these products. We are bringing in world leaders to do that. Our capital will be deployed on the development of products and in the rollout of our networks and services globally.” said Carew.
Binatone founder and Chairman, Gulu Lavini, said: “Binatone has been at the forefront of innovative telecom technology for the past four decades. The next telecom revolution is VoIP – and we are determined to be instrumental in bringing it to the mainstream”.
Binatone Group Marketing Manager Nick Andrews said the deal could “potentially double” Binatone’s business.
“Through its market leading position in digital cordless phones, Binatone’s extensive distribution network can extend Freshtel’s technology to a global market,” he said.
Freshtel now has global mass market distribution capabilities in terms of its hardware and network. Binatone will earn a share in call termination revenue generated on any Freshtel service launched with Binatone’s customers introduced to Freshtel.
“We believe we have now become accepted as a world leader in the development and deployment of internet telephone services, and that will continue to be the main thrust of our business. This was well demonstrated,” said Carew, “when Tesco, the leading UK retailer, entered into an agreement with Freshtel on the 29th December 2005, to market our product under their label in the United Kingdom”.
“It’s very exciting and most pleasing for a young Australian company to be singled out by a major retailer in the United Kingdom” said Carew. “Also, as a separate transaction, Tesco purchased 9,500,970 shares in Freshtel, which amounts to 6% of the company’s shareholding, and we are delighted to have Tesco as a substantial shareholder on the register. We look forward to a long and profitable partnership with Tesco” said Carew.
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