TCSI Corp. (Nasdaq: TCSI) shot up 128 percent Monday after communications network provider 3Com Corp. (Nasdaq: COMS) said it will use the company's Catalant management application and engineering services as the framework for a new networking system.
Shares of TCSI, a provider of telecommunications software and services, were up 4 to 7 1/8, with just over 18 million shares changing hands. 3Com, which recently announced the IPO of its Palm division, saw its shares rise 9/16 to 56 5/16.
Financial details of the four-year pact were not disclosed.
3Com said it would use Catalant in its new CommWorks 5000 network and service management system, which will enhance its strategy to provide cutting-edge products to communications companies as they move from older circuit-switched systems to packet-based networks.
Packet-based networks allow communications providers to offer new services, 3Com said, that, in some cases, are more versatile and scalable.
"Catalant will enable 3Com to bring powerful IP network and service management solutions to market faster, with the highest levels of scalability, performance and quality," said Irfan Ali, general manager of 3Com Carrier Systems.