Ceragon Networks (CRNT) Rises 5% After Stelera Awards It A New Contract

May 4, 2009 1:08 PM EDT

Ceragon Networks Ltd. (NASDAQ: CRNT) is up over 5% after it announced that its FibeAir IP solutions are going deployed by Stelera Wireless. Utilizing Ceragon's solutions, Strelera is building out a high-capacity wireless backbone that would serve to bring the benefit of broadband internet access to underserved communities in rural America. Initial equipment orders are valued at over $1 million.

"Ceragon solutions allow us to cost-efficiently build a wireless network that is optimized for delivering high-speed, value added data services," said Ed Evans, Chairman & CEO of Stelera Wireless. "Our company is determined to bring broadband connectivity to consumers that, until today, were virtually disconnected. Using Ceragon solutions we can now expand our network reach and serve new markets more quickly."

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