Small cap ASX-listed company NetComm Wireless has signed a deal with a large US telecommunications carrier to provide the same devices it is using in Australia to expand the NBN network in remote regional areas.
The agreement is for devices to connect households and businesses to a wireless rural broadband network in the US.
A short time ago, the shares were up 23% to $3.290.
“Due to a confidentiality agreement in place with this large USA based telecommunications carrier, NetComm Wireless is unable to provide specifics in relation to the agreement at the present time,” the company said.
There are no details on the value of the agreement. “There are a number of additional requirements normal to this type of project that need to be satisfied to progress the project,” the company said.
CEO David Stewart says the agreement is a key milestone in the company’s global growth strategy for regional broadband.
“It builds on our success to date with Ericsson in delivering a similar service to Australia’s National Broadband Network. We see potential for this technology solution in many different countries,” he says.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.