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Wireless backhaul developer Ceragon Networks Ltd. (Nasdaq: CRNT; TASE:CRNT) today reported that it has been awarded a contract by a leading Latin American mobile operator to provide long-haul connectivity for new 3G sites and increased capacity for its enterprise users. Ceragon said that it is currently serving as the sole supplier for these sites.
Ceragon added that its Evolution IP Long-Haul will enable a higher level capacity for Ethernet bandwidth and 2G/3G voice and data implementations across the network, allowing for increased accessibility for the bandwidth growth within Latin America.
Ceragon Networks president and CEO Ira Palti said, "The need for high-capacity bandwidth for this region is ever-increasing and we are committed to building a robust network capable of meeting our customer's connectivity needs today and well into the future."
Ceragon added that the network rollout will commence in the first quarter of 2012 and continue to run throughout the year.
Ceragon did not disclose the size of the deal.
Ceragon's share price closed at $7.84 on Nasdaq yesterday giving a market cap of $282.75 million. The share price was down 0.72% in late afternoon trading on the TASE today at NIS 30.34.
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