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Network equipment specialist Ciena Corporation (NYSE: CIEN ) announced Thursday that it has secured a contract to provide "next-generation 100G coherent optical technology" to Comcast (NASDAQ: CMCSA ) for use in the cable company's core network.
Furthermore, Ciena said in a statement, that its 6500 Packet-Optical Platform is scalable up to as much as 400 gigabytes, when paired with Ciena's WaveLogic 3 coherent optical line interfaces, giving "providers like Comcast a cost-effective, scalable way to further enhance their networks while supporting continued broadband growth."
In practical matters, Comcast explained that the new technology will allow it to "deliver more content, faster Internet speeds and enable new cloud-based applications for our customers."
Financial terms of the sale were not disclosed, but investors seemed to like the news, bidding shares of Ciena up 1.9%, to $15.52, by close of trading Thursday, and pushing Comcast shares up 2%, to $39.95.