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360networks Signs $230 Million Deal With Deutsche Telekom

360networks

(TSIX)

signed a contract with

Deutsche Telekom

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(DT) - Get Report

, valued at about $230 million, to provide the German telecommunications company with broadband capacity for high-speed Internet access and maintenance.

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Deutsche Telekom will also be able to buy dark fiber infrastructure and equipment maintenance services from 360networks for the next 20 years.

Shares of Deutsche Telekom rose 31 cents, or 1%, to $31.75 in recent

New York Stock Exchange

trading, and 360networks lost 13 cents, or 1%, to $12.81 on the

Nasdaq

.