Bell Canada Contract Buoys PairGain Stock
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TUSTIN — PairGain Technologies Inc. shares rose 7.5% after the company said it received a two-year contract to supply high-speed communications network equipment to Bell Canada.
Terms of the contract weren’t disclosed, but a spokesman for PairGain said it is expected to generate $5 million to $10 million a year.
Shares of the Tustin-based company, which designs and makes equipment for digital, high-speed voice, video and data networks, rose $8 to close at $114.50 on the Nasdaq market.
Under the agreement, PairGain will supply equipment that will let Bell Canada provide high-speed voice, video and data to business customers over its copper wire phone lines. Bell Canada’s parent company, Montreal-based BCE, also has telecommunications equipment, mobile communications, natural gas transportation and financial services businesses.
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