This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Ceragon Expands Sub-Saharan African Footprint Receiving Major Wireless Network Deals Totaling $28 Million

Stocks in this article: CRNT

PARAMUS, New Jersey, November 27, 2012 /PRNewswire/ --

Ceragon Networks Ltd. (NASDAQ:  CRNT), the #1 wireless backhaul specialist, today announced that it is continuing to expand its footprint in Africa with long-term equipment and services orders from two large customers in sub-Saharan Africa. Totaling $28 million USD, both orders are from existing customers who have already successfully deployed large scale high-capacity wireless backhaul networks throughout the sub-region, based on Ceragon's Evolution and FibeAir solutions.

An order of $15 million USD was received for the expansion of a mobile operator's high-capacity network within this rapidly growing mobile market.  The other order of $13 million USD was received from an existing mobile customer for Ceragon's short haul and long haul solutions as well as professional services. This operator continues to develop its 2G/3G network in one sub-Saharan country as it begins to expand into another. The improved network quality will allow both mobile operators to offer voice and data services to millions of underserved subscribers who would otherwise not have had access to the services. Both projects are now under way and are expected to be completed over the next 18 months.

A recent report commissioned by the GSMA revealed that sub-Saharan Africa is the fastest-growing mobile market in the world, with an average annual growth rate of 44 per cent since 2000. Mobile connections have jumped to 475 million, compared to 12.3 million fixed line connections, representing the highest proportion of mobile versus fixed line connections globally.

" Africa is a key region for us and will continue to represent one of our primary growth engines," said Ira Palti, CEO and President of Ceragon Networks. "The mobile market in Africa continues to expand, despite lengthening sales cycles due to macro-economic factors. Ceragon is well positioned to continue to play a significant role in network deployments in this region as existing and new customers favor comprehensive solutions providing cost-effective high-capacity and feature rich solutions with turnkey capabilities."

About Ceragon Networks Ltd.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,191.37 -195.84 -1.13%
S&P 500 2,002.16 -27.39 -1.35%
NASDAQ 4,637.9940 -43.5030 -0.93%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs