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Tech Industry

Hybrid gains on Sprint purchase

Hybrid Networks Inc. (Nasdaq: HYBR) said Wednesday that Sprint Corp. (Nasdaq: FON) has ordered 16,000 wireless broadband routers for use in its nationwide roll out of fixed-wireless Internet service to business and residential customers.

Shares in Hybrid, a maker of fixed broadband wireless Internet-access systems, soared 2.06 to 10.25, or 25 percent, in response to the news.

The routers, which Sprint is using as part of a complete system developed by Hybrid, enable computers to convert data to signals that are transmitted over radio frequencies, giving users two-way wireless Internet access. Hybrid will begin shipping the Wireless Broadband Routers next week and will complete shipments by the end of 2000.