Elephant Talk Receives $10M Service Prepayment as part of 5 Year Contract Extension with MNO Client in Europe
(Benzinga Lightning Feed Via Acquire Media NewsEdge) Elephant Talk Communications (NYSE: ETAK) today announced that the Company has signed a 5-year extension with an existing Mobile Network Operator (MNO) in Europe. Under the financial terms of this new contract, the Company expects that hosting fees will increase approximately 13%, on average, per SIM per month, in exchange for improved service levels. Elephant Talk will receive continuous prepayments of approximately $10 million for the duration of the contract.
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