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Tech Industry

Foundry and GTS rise on deal

    Foundry Networks Inc. (Nasdaq: FDRY), provider of high-performance, end-to-end switching and routing systems, said Monday that Global TeleSystems (NYSE: GTS) is using its equipment for its Web hosting centers throughout Europe.

    Foundry shares rose 1.06 to 68. Shares in GTS, a provider of e-Business and broadband services across Europe, saw shares up 0.13 to 4.625, and as much as 7 percent in morning trading.

    GTS has deployed Foundry's BigIron 8000 Layer 3 switches and ServerIron XL Layer 4-7 Internet traffic and content management switches in its Web hosting centers in London, Paris, Frankfurt and Amsterdam.

    "This is a significant customer win for Foundry, highlighting our proven expertise in providing high-performance switching solutions," said Bobby Johnson, president and CEO of Foundry Networks.

    Financial details of the deal were not released.