What’s going on with AVNW?
Aviat Networks (AVNW) stock was trading 4.27% lower after the telecommunications hardware company announced a multimillion-dollar agreement with Africell, a mobile provider in Africa. Shares were trading at $28.01 on Tuesday afternoon.
What does it mean for Aviat Networks?
Shares of the Austin, Texas-based Aviat Networks slipped despite the deal with Africell, which calls for Aviat to design, build and maintain a 5G-ready end-to-end disaggregated transmission network. The actual dollar amount of the deal was not announced.
Mobile operator Africell has 12 million subscribers, operating in Gambia, Sierra Leone, Democratic Republic of Congo and Uganda; it plans to expand into Angola this year.
"Leading mobile operators like Africell recognize the operational advantages of a disaggregated solution and how its flexibility will enable the rapid delivery of broadband services," said Peter Smith, CEO of Aviat Networks.
AVNW has an Overall Score of 33. Find out what this means to you and get the rest of the rankings on AVNW!
Aviat Networks Inc is a networking solutions provider. It designs, manufactures and sells wireless networking products, solutions, and services to mobile and fixed operators, private network operators, government agencies, transportation and utility companies, public safety agencies and broadcast network operators around the world. The company's product categories include point-to-point microwave and millimeter wave radios that are licensed (subject to local frequency regulatory requirements), lightly-licensed and license-exempt (operating in license-exempt frequencies), and element and network management software. Primarily the firm's concentrations for most of the Sales and Service resources are in the United States, Western and Southern Africa, the Philippines, and the European Union.
