Stock Update (NASDAQ:DRWI): DragonWave, Inc.(USA) Receives Additional Multi-Million-Dollar Turnkey Purchase Orders from Pan-India Broadband Service Provider
DragonWave, Inc.(USA) (NASDAQ:DRWI), a leading global supplier of packet microwave radio systems for mobile and access networks, today announced it has received follow-on purchase orders for Horizon Compact+ radio systems from a major Indian Telecom and Broadband Service Provider. The orders also include services to be delivered byDragonWave’s Indian joint venture, DragonWave HFCL.
“We are honoured to be extending our partnership with this key Indian customer, an innovative pan-India broadband service provider with the vision to create a cutting-edge 4G/LTE broadband network together with a powerful ecosystem of digital services,” said DragonWavePresident and CEO Peter Allen. “India is an important market, home to the world’s second largest population, and a young nation with a fast growing digital audience. Our Horizon Compact+ solution delivers cost-effective capacity, which is particularly valuable in India where backhaul spectrum is limited and expensive.”
DragonWave Horizon Compact+ uniquely offers a combination of 2048 QAM modulation and the industry’s only bandwidth accelerator bulk compression capability to deliver unsurpassed spectral efficiency. (Original Source)
Shares of Dragonwave closed yesterday at $0.6051 . DRWI has a 1-year high of $2.55 and a 1-year low of $0.50. The stock’s 50-day moving average is $0.68 and its 200-day moving average is $0.82.
DragonWave Inc is a provider of high-capacity packet microwave solutions that drive next-generation IP networks. Its products are wireless network backhaul equipment.