Why DragonWave Inc. (DRWI) Stock Is Soaring Today

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DragonWave Inc. (DRWI) shares are soaring today following a network expansion deal with Saudi Telecom Company (STC).

DragonWave, Inc.

DragonWave will supply STC with its Horizon Compact+ and Harmony Enhanced microwave products. These come equipped with the DragonWave Bandwidth Accelerator.

The move will help improve STC’s backhaul spectrum capacity. “The integration of DragonWave’s industry-leading microwave backhaul solutions supports our growth strategy and ensures that our enterprise end-user customers continue to receive the best in service quality and reliability,” said Tarig Enaya, STC SVP for the Enterprise Business Unit.

DRWI stock is up 20.05% Tuesday.

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