Sandvine Gains Most in Three Years on Asian Order

Sandvine Corp. (SVC), which sells Internet network management tools, jumped the most in more than three years after receiving about $6.5 million in follow-on orders from an Asian service provider.

Sandvine soared as much as 18 percent to C$1.63, the highest since April 2009, and was up 8.7 percent to C$1.50 at 11:33 a.m. in Toronto. A close at that level would be the highest since June 5.

“This is a multi-phase project and the deployment has proceeded as expected,” Tom Donnelly, chief operations officer of sales and global services at Waterloo, Ontario-based Sandvine, said in a statement. “We are just beginning the second phase.”

The company said it first announced initial orders from the customer, a “top five” communications service provider in Asia, in May 2012.

Since that time, Sandvine has announced orders from Asian operators worth about $20 million, Donnelly said. The company has customers in Japan, Australia, Hong Kong, Singapore and Indonesia, according to the statement.

To contact the reporter on this story: Eric Lam in Toronto at

To contact the editor responsible for this story:

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.