It has been a successful week for Israeli company Ceragon Networks Ltd. (Nasdaq: CRNT; TASE:CRNT). The company closed three deals in India worth a total of $40 million. Its share price has responded accordingly: the price on Nasdaq is currently up 3.45% at $1.80, on a high volume, giving the company a market cap of $140 million.
The company announced today that three mobile operators in India are continuing the large scale expansion of their 4G services with its IP-20 Platform. These Ceragon customers have placed orders totaling nearly $40 million, year to date, whereby approximately 25% of related revenue was recognized in the first quarter and the remainder will be recognized in the coming quarters.
The operators require a fast 4G rollout that reliably and efficiently supports their current and future growing capacity requirements, and ultimately allows them to quickly take advantage of increased revenue opportunities.
Ceragon said it was able to rapidly meet the operators' demands, providing quick and simple installation as well as turnkey network rollout of its IP-20 Platform. Moreover, its IP-20 Platform's advanced multicore technology offers the operators numerous capabilities that allow them to meet their business challenges and achieve the highest value.
According to Ceragon, its distinctive multicore technology helps the operators meet service demands in highly populated circles where fiber is not available and wireless backhaul spectrum is hard to find as it provides up to 1Gbps 4G backhaul using as little as a single narrowband frequency channel.
"We are pleased to see our customers in India consistently incorporate our IP-20 Platform in their 4G expansion projects," said Ceragon CEO Ira Palti, "We are committed to delivering a best of breed portfolio of products that meets our customers current and future needs - helping them achieve their business goals and resolve their challenges to achieve the highest value for them."
Published by Globes [online], Israel business news - www.globes-online.com - on June 6, 2016
© Copyright of Globes Publisher Itonut (1983) Ltd. 2016