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DragonWave’s shares surge on distribution deal with Ingram Micro Australia

Tuesday, March 14, 2017 9:30
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Shares in DragonWave Inc. (NASDAQ:DRWI) have surged more than 71% today after the Canadian telecom company said it has signed a deal with Ingram Micro Australia.

The Ottawa-based wireless broadband component supplier’s share price jumped 71.72% to $1.97 each in early US trading.

Under a master sales and services agreement, Ingram Micro will expand its wireless vendor portfolio to the Australian channel using DragonWave’s Harmony Enhanced MC products. 

Harmony Enhanced MC provides high bandwidth rural connectivity of 4 to 8 gigabits in a single radio. It offers fibre-equivalent capacities for rural backhaul without having to install expensive fibre connections.

“Our partnership with Ingram Micro Australia further expands our sales and support capabilities across Australia,” said DragonWave president and chief executive, Peter Allen.

“Ingram Micro will help launch our new Harmony Enhanced MC product line into very important channel markets where wireless networks are playing an ever-increasing role to augment ongoing National Broadband Network fiber builds.”

Allen said the partnership will also support its Harmony Care programme, a customer service for the deployment of DragonWave’s products.

Story by ProactiveInvestors



Source: http://www.proactiveinvestors.com/companies/news/174784/dragonwave-s-shares-surge-on-distribution-deal-with-ingram-micro-australia-174784.html

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