Ceragon Networks Ltd. (Nasdaq: CRNT; TASE:CRNT) has won follow-on orders for its wireless backhaul products, which combine TDM and Ethernet technology, from Tele2 Russia. The solutions provide cost-effective and easy migration from legacy networks to IP networks.
Ceragon provides next-generation high-speed backhaul solutions for wireless networks. The company has sales offices worldwide and a customer base of more than 230 mobile carriers and hundreds of private networks in over 130 countries.
Tele2 Russia, the country's fourth largest mobile carrier, is a subsidiary of Sweden's Tele2 AB (OMX: TEL2B), one of Europe's largest carriers. Tele2 Russia has more than 20 million subscribers in 37 regions in Russia. Ceragon's solutions will provide immediate support for Tele2 Russia's 2G and 2.5G networks, and will enable seamless transition to its 3G and 4G/LTE networks at a later date. Ceragon has supplied wireless backhaul solutions to Tele2 Russia for several years, including advanced equipment and installation services.
"Ceragon's solutions and expertise made it possible for us to get our networks up and running rapidly, enabling us to provide our subscribers with reliable, cost-effective service," said Tele2 Russia CTO Ritvars Krievs. "As a result, we were able to monetize the services we offer to customers very quickly, and achieve a positive return on our investments."
Ceragon's share price rose 2.9% by mid-afternoon on the TASE today to NIS 32.76, after falling 0.5% on Nasdaq yesterday to $8.54, giving a market cap of $301 million.
Published by Globes [online], Israel business news - www.globes-online.com - on February 13, 2012
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