Monday, 21 March 2016 22:37

Norwood signs first distribution agreement MoU with major Vietnamese full-service telco

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A non-binding MoU has been signed between Norwood Systems and Vietnam Posts and Telecommunications Group, contemplating a technical spec and commercial negotiation as a prelude to a broad-ranging commercial agreement and partnership.

Norwood Systems’ CEO and Founder, Paul Ostergaard, said: “We are extremely happy to announce VNPT as our first potential major Telco sales partner. Subject to reaching a final and binding commercial agreement, the partnership would allow us to market World Phone directly and effectively to a significant addressable market in Vietnam.”

“Forward-thinking Telco operators like VNPT are getting ahead of the game and offering their customers the OTT Apps, like World Phone, that their customers want to use. By offering World Phone, they are offering a premium experience which we think their customers will love, whilst still capturing revenue.

“Whilst I was attending the Mobile World Congress recently in Barcelona, it was evident to me that OTT services are here to stay and will become a major feature of the Telco landscape. I could not be happier with our positioning as a supplier of high-quality, global and end-to-end OTT service platforms to the Telco Operator market.

“I want to acknowledge our team, who has done such a great job in raising up the visibility of World Phone to a global level. This is now putting Norwood on the map, triggering and driving a considerable amount of inbound Telco interest in our service platforms.

With 500 mobile operators worldwide alongside roughly 1000 mobile virtual network operators, we can see a bright future ahead to engage with such operators and to deliver to them our award-winning range of high-quality, global OTT service offerings.”

More below, please read on:

The non-binding Memorandum of Understanding (MoU) signed with Vietnam Posts and Telecommunications Group (VNPT) includes:

  • A major full-service Telco, VNPT is the seventh largest company in Vietnam
  • 10 million landline, 33.7 million mobile, and 3.2 million broadband subscribers
  • 90,000 employees – annual turnover approx. US$ 4 billion
  • Owner of the second largest mobile operator network in Vietnam - Vinaphone

The non-binding MoU contemplates a technical specification and commercial negotiation as a prelude to a broad-ranging commercial agreement and partnership, covering:

  • MoU and Commercial agreement to be via VNPT’s systems integration arm, CT-IN
  • VNPT will promote and market World Phone to its customer base for:
    • Unlimited, high-quality direct calling between World Phone users for a subscription of US$1 to 3 per month
    • Regular local, national and international calling to contacts outside the World Phone user base offered at rates determined through Norwood’s Global Dynamic Pricing system, and paid for with World Credit purchased in-App
  • VNPT and Norwood to agree a revenue sharing split for monthly subscriptions
  • VNPT to receive also an estimated 25% of additional contribution (net of costs, App Store and/or third party commissions and fees) for VNPT customers purchasing World Credit
  • Norwood and VNPT will jointly market and promote World Phone to VNPT’s customer base, focusing specifically on business users and the enterprise market
  • VNPT to join Norwood’s federated telecommunications services network, offering additional high-capacity points of presence (POPs) for Norwood’s installed baseForthcoming World Message and World Wi-Fi Apps to be added to offer once launched
  • VNPT to explore with Norwood how to make available local numbers to visiting travellers, potentially greatly streamlining the existing process

More information is available at the ASX announcement here

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