Alvarion Ltd. (Nasdaq: ALVR; TASE: ALVR) and its local partner Vuppalamritha Magnetic Components Ltd. (VMC) will supply base stations and related services to Indian mobile carrier Bharat Sanchar Nigam Ltd. (BSNL) for a 4G wireless broadband network in rural India. The contract is worth over $10 million.
Alvarion specializes in developing WiMAX solutions for 4G broadband wireless communications networks. The Indian government awarded government-owned BSNL a grant to deploy the network.
Alvarion president and CEO Eran Gorev said, "India has significant potential for wireless broadband, and this agreement further enhances our presence in the country."
Alvarion has targeted India as a growth engine for the company, but progress has been slower than expected. With the publication of the financial report for 2010, Gorev said that the company had been notified that it had been selected for a project worth over $10 million, but that it had not yet received the order.
Alvarion's share price rose 5.3% on Nasdaq yesterday to $1.80, giving a market cap of $111 million, and rose 5.6% by mid-afternoon to NIS 6.40, after rising over 10% at the opening.
Published by Globes [online], Israel business news - www.globes-online.com - on March 17, 2011
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