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Investment Portfolio News

Sandvine signs new customers; shares up

Canada’s Sandvine Corp), which helps broadband and telecom operators manage data traffic, said it got six mobile service providers and two DSL operators as customers, sending its shares up as much as 11 percent.

A company spokesman said Sandvine would recognize some revenue from the deals in the current quarter but declined to disclose the total deal values and the customers.

CIBC World Markets analyst Todd Coupland said “My sense is that they are not Tier 1 carriers, so it will be helpful, but it’s not going to have a massive effect on the company’s results.”

Sandvine shares rose as much as 11 percent in early morning trade Wednesday, before paring some gains to trade up 3 percent, or 4 Canadian cents, at C$1.38 in afternoon trade on the Toronto Stock Exchange.

The company had won 11 customers in the third quarter, helping it to post a narrower loss for the quarter.

December 2, 2009

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