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Israeli community tools vendor Ceragon Networks (Nasdaq: CRNT) share value jumped 12% on Thursday after reporting that it had signed an settlement with a worldwide integrator, in assist of a community modernization mission for a Tier 1 Operator in India. The contract is price $150 million however may rise or fall 25% relying on the necessities of the mission.
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On Friday the corporate’s share value was unchanged at $2.62, giving a market cap of $221.108 million. Ceragon’s share value rose 13% in 2023 and has risen an additional 24% for the reason that begin of 2024.
Ceragon CEO Doron Arazi stated, “The dimensions and scope of this mission reaffirms Ceragon’s sturdy model recognition as an modern and reliable companion within the wi-fi transport house. We’re excited to participate in offering the residents of India with the future-friendly connectivity they want.”
Ceragon is anticipated to start supply and deployment of the brand new websites within the second quarter of 2024. Deployment is anticipated to finish inside 7-9 quarters, with roughly 75% of the mission worth anticipated to be obtained throughout this era.
Revealed by Globes, Israel enterprise information – en.globes.co.il – on January 14, 2024.
© Copyright of Globes Writer Itonut (1983) Ltd., 2024.
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