Wireless backhaul equipment maker Ceragon Networks Ltd. (Nasdaq: CRNT; TASE:CRNT) said today that it has reached a multi-year agreement for microwave systems with Russian telecommunications company TELE2 Russia.
Ceragon said that shipments relating to the agreement are already underway.
With this agreement, Ceragon is helping TELE2 subsidiaries in Russia to build out multiple high-capacity, carrier-grade networks to backhaul voice and data traffic for mobile telephony and broadband internet access.
TELE2 Russia has been installing new cellular networks throughout Russia over the past several years. With 17.3 million customers in 37 regions, TELE2 Russia claims to be the fourth largest mobile operator in the country.
TELE2 Russia's objective is to offer premium communication services to customers at affordable prices. The operator chose Ceragon's FibeAir IP-10 platform. Tele2 Russia CTO Ritvars Krievs said, "Ceragon's microwave solutions provide TELE2 with a highly reliable, cost-efficient backhauling solution."
Ceragon shares closed at $9.66 on Nasdaq yesterday, giving a market cap of $336.95 million.
Published by Globes [online], Israel business news - www.globes-online.com - on October 6, 2010
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