Net Insight Jumps as Eurovision Boosts Orders: Stockholm Mover
Net Insight AB (NETIB), a Swedish maker of equipment for media and broadcast networks, rose the most in almost two weeks in Stockholm trading after winning an order from the European Broadcasting Union.
The company’s shares jumped as much as 6.8 percent to 1.25 kronor, its steepest advance since May 31. The stock traded 2.6 percent higher as of 10:09 a.m. local time, with trading volumes at 102 percent of the daily average in the past three months, giving Net Insight a market value of 465 million kronor ($71 million).
The order from the EBU for Net Insight’s Nimbra platform is valued at more than 1 million euros ($1.33 million), with delivery to take place in the second quarter, it said in a statement today. The EBU is the world’s largest alliance of public service media organizations and operates Eurovision, which distributes and produces entertainment, sports and news events and whose fiber network is based on Nimbra, it said.
“EBU is our customer since 2004 and have evolved its Eurovision network continuously to meet increasing customer requirements for more capacity and new services,” Net Insight said in today’s statement. “EBU will perform several different build-outs of its network to support large global events.”
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