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Tuesday, Aug 20
TranSwitch rallies on communication processor contract
- TranSwitch (TXCC +19.6%) is rallying after the company announces Indian conglomerate Reliance Industries has selected its Atlanta 80 communication processor as part of its 4G LTE network build out. The product will enable Reliance subsidiary Jio Infocomm's new network to support high-speed data and Voice over LTE services.
- With India's data usage mushrooming, the contract could be a big score for TranSwitch. Roll out is expected to begin in H2 of 2013 and continue with a multi-year plan in place.
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