Why Ruckus Wireless Shares Jumped
Feb 22nd 2013 3:51PM
Updated Feb 22nd 2013 4:25PM
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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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