a leading global provider of connectivity and internet services, announces a revised arrangement with Ericsson to upgrade its core IT systems in several countries in the coming years and to release Ericsson from the development and delivery of the Full Stack Revenue Manager Solution. The parties have signed binding terms to vary the existing agreements and as a result VEON will receive USD 350 million during the first half of 2019.

This revised arrangement enables VEON to continue upgrading IT infrastructure with new digital business support systems (DBSS) using existing software from Ericsson which is already deployed in certain operating companies within VEON. This upgrade is expected to support the creation of a more personalised, richer experience of VEON’s services for customers and, over time, reduce overall operating costs.

Yogesh Malik, VEON’s Group Chief Technology Officer, commented: "With Ericsson's support, we have successfully digitised the core of our operations in Algeria and Georgia during the past year, and can see its positive impact. This revised arrangement is a further sign that VEON is fully committed to introducing best-in-class IT platforms in all of our markets.”