Tech blog

MONTREAL - Shares in Mitec Telecom Inc. (TSX:MTM - news) rose 13 per cent Thursday after the firm won a contract to provide a satellite terminal product to an unnamed major cellular network operator in Africa.

Financial terms were not disclosed.

The initial order (for the VSAT Block-up Converter) is expected to be the first in a series of orders supporting a cellular network buildout in African regions, Montreal-based Mitec said in a release.

Deliveries have begun and desire continue over the next two quarters.

“Mitec continues to deliver steady our strategy to introduce more of our existing off-the-shelf products to new markets,” said CEO Dan Piergentili. “Our VSAT products are preferred backhaul solutions for cellular networks which provide the connection between remote cellular networks and wired telephone systems.”

He said this is needed especially in countries where telephony infrastructure is required amid large distances betwixt distant locations and mountainous terrain.

On the Toronto emporium, Mitec stock was up 1.5 cents at 12.5 cents on about 900,000 shares traded.