Vertel (Nasdaq: VRTL) proved China-related news still has some leverage. Shares were up 18 percent Tuesday after the company announced it has sold licenses of its telecommunications management network (TMN) product line to ZhinZhen Node and ZhongXing in China for use in several wireless projects.
Shares in the provider of mediation software for telecommunications networks were up 1.13 to 5.19, despite a lack of financial details on the deal. The stock, far below its 52-week high of 51.94. has gotten several boosts from licensing deals; one in August from an undisclosed wireless and optical network equipment manufacturer, and again in September with an undisclosed telecommunications provider. Earlier in the year, the company piggybacked on a deal with Lucent (NYSE: LU).
"We are pleased that we are further penetrating the China market," said Vertel CEO Cyrus D. Irani in a statement.
ZhinZhen Node, an independent software vendor, will use the Vertel TMN development tools to build a Global System for Mobile Communications (GSM) monitoring application for a wireless equipment manufacturer in China.
ZhongXing Telecom, a telecommunications equipment developer and manufacturer, will build network management applications that include the Vertel technology for two wireless service providers based on two different standards, GSM and Code Division Multiple Access (CDMA).
Financial details were not disclosed.