Elastic Networks (ELAS) was up 32.6% in late afternoon after the company announced a deal with Verizon Avenue, a unit of Verizon (VZ) - Get Report.

Under the deal, Elastic will supply its ethernet platform for a nationwide rollout of high-speed broadband services.

Verizon plans to deploy Elastic's products to multi-tenant dwellings in 31 states, the company said. Elastic also unveiled its new EtherLoop2 technology, which represents an increase in its speed and distance capability.