Alvarion Ltd. (Nasdaq: ALVR; TASE: ALVR) has signed a $1.5 million contract to supply its 4Motion solution to Zimbabwean wireless broadband provider uMAX Ltd., which is setting up the country's first 4G network in the capital, Harare.
uMAX will use Alvarion’s 4G solution to deliver VoIP, video-streaming, high-speed Internet, and other services to business and residential customers. uMAX is a subsidiary of Dandemutande Investments Ltd.
Alvarion president and CEO Eran Gorev said, "uMAX is a fast-growing wireless broadband provider in an extremely dynamic market and our 4Motion solution will enable them to move forward and expand their customer base at an opportune time."
Alvarion's share price fell 3.9% on Nasdaq yesterday to $1, giving a market cap of $62 million, and rose 2.8% by early afternoon on the TASE today to NIS 3.86.
Published by Globes [online], Israel business news - www.globes-online.com - on November 10, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011
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