Sync’s Stock Rises
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IRVINE — Sync Research Inc. stock rose 14% after the company said it signed a contract to supply a subsidiary of Canada’s Northern Telecom Ltd. with high-speed data transfer equipment for use in Europe.
Sync shares climbed $2.125 to $17 in trading of 509,300 shares, almost triple the three-month daily average on the Nasdaq market.
Sync will supply equipment to Nortel, a unit of Brampton, Ontario-based Northern Telecom.
The Irvine company makes equipment that combines data from computer systems for transfer over phone lines. Customers, such as banks, use the equipment to link computers at branch offices to machines at their main offices.
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