Why Ruckus Wireless Shares Jumped
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What: Shares of Ruckus Wireless have jumped today by greater than 15% after the company reportedly scored a big contract.
So what:GigaOM exclusively reported that Airtel Africa was rolling out a massive Wi-Fi network in 17 different countries as a substitute for a 3G network. The region primarily relies on 2G wireless networking right now, and 3G data connections are sparse in Africa. Ruckus is rumored to be a key supplier in the initiative.
Now what: The report says that Ruckus will supply the indoor and outdoor access points, although the company declined to officially comment. Alcatel-Lucent is also named as a key vendor, and that company did confirm last month that it was pitching in to Airtel's buildout. Ruckus just went public late last year and this deal would certainly be a boon for the small networking provider if the report turns out to be accurate.
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The article Why Ruckus Wireless Shares Jumped originally appeared on Fool.com.Fool contributor Evan Niu, CFA, has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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