Why Ruckus Wireless Shares Jumped

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Ruckus Wireless (NYSE: RKUS  ) have jumped today by greater than 15% after the company reportedly scored a big contract.

So what: GigaOM exclusively reported that Airtel Africa was rolling out a massive Wi-Fi network in 17 different countries as a substitute for a 3G network. The region primarily relies on 2G wireless networking right now, and 3G data connections are sparse in Africa. Ruckus is rumored to be a key supplier in the initiative.

Now what: The report says that Ruckus will supply the indoor and outdoor access points, although the company declined to officially comment. Alcatel-Lucent (NYSE: ALU  ) is also named as a key vendor, and that company did confirm last month that it was pitching in to Airtel's buildout. Ruckus just went public late last year and this deal would certainly be a boon for the small networking provider if the report turns out to be accurate.

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