DragonWave, Inc. (USA) (NASDAQ: DRWI)
DragonWave is having an overwhelmingly strong start to the day in the pre-market hours today, prompting our partners at Trade Ideas to send an alert surrounding the movement. When we got the alert, the CNA Finance team started digging, quickly learning that the gains are the result of news that its services have been selected by CCI Wireless. At the moment (8:45), DRWI is trading at $1.60 per share after a gain of $0.25 per share or 18.52% thus far today.
DRWI Announces Selection Of The Harmony Enhanced MC Backhaul Solution
As mentioned above, DragonWave is having an overwhelmingly strong start to the day in the pre-market. The gains come as the result of a press release announcing that the company has selected the Harmony Enhanced MC backhaul solution by Corridor Communications. The deployment of this solution will increase the capacity and offer new capabilities to CCI Wireless’ existing rural microwave network.
DRWI announced that it’s Harmony Enhanced MC will replace CC Wireless’ existing DragonWave Horizon Compact radios. This will provide a more than three-fold capacity increase by leveraging Harmony Enhanced MC’s dual channel capacity. In a statement, Amir Bigloo, CEO at CCI Wireless had the following to offer with regard to the DRWI deal…
“We selected DragonWave and its partner, Alliance Corporation after determining that the Harmony Enhanced solution best met our high capacity and long reach requirements… Through our evaluation, which included field testing, we found the Harmony Enhanced MC to offer superior performance and greater operational simplicity.”
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on DRWI. In particular, we’ll be following the relationship between the company and CCI Wireless, and how this relationship turns into revenue growth. Nonetheless, we’ll continue to follow the story closely and bring you the news as it breaks!
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