Communications equipment firm Tejas Networks on Thursday announced that it has acquired an order worth $13 million (approx Rs 95 crore) from a telecommunications service provider in South East Asia. As per the contract, the Indian firm will be responsible for the supply and installation of its broadband products.
The company in a regulatory filing said, “… it has received a purchase order of $13 million from a leading telecommunications service provider in South East Asia. As per the contract, Tejas will supply and install its award-winning TJ1400 ultra-converged broadband products (TJ1400UCB) to extend high-speed broadband services to underserved rural communities in the region.”
The project is expected to be executed within the next 12 months.
Speaking about the project Sanjay Nayak, Managing Director and CEO of Tejas Networks said, “We are delighted to be chosen for this prestigious project that will enable a sizable rural population to experience the tangible benefits of high-speed, reliable and affordable wireless internet for the first time. TJ1400UCB is an innovative product that provides the flexibility to rapidly rollout broadband services on optical fiber, wireless or copper media, as per available infrastructure, at highly affordable costs.”
Tejas Networks designs, develops and sells high-performance and cost-competitive networking products to telecommunications service providers, internet service providers, utilities, defence and government entities in over 75 countries.
The company products utilize programmable, software-defined hardware architecture with a common software code-base that delivers seamless upgrades of new features and technology standards.
Post the announcement, shares of Tejas Networks hit upper circuit limit at Rs Rs 137.45 apiece on BSE, up by 4.96 per cent.