Vislink Technologies news for Wednesday about a deal with the U.S. Army has VISL stock taking off.
Vislink Technologies (NASDAQ:VISL) says that it has signed a $2.80 million deal with the U.S. Army. This will have the company supplying it with intelligence, surveillance and reconnaissance (ISR) receiver devices.
According to the Vislink Technologies news release, the company will provide the U.S. Army with “ruggedized, lightweight hand-held receivers designed to display real-time video imagery transmitted by aerial assets or frontline surveillance platforms, as well as related accessories.”
“We are honored that Vislink continues to be a trusted partner to our armed forces, and this latest contract underscores our ability to meet their most stringent requirements,” John Payne, President and COO of IMT Vislink, said in a statement. “Our video communications technology remains the de facto standard in high performance, rapidly deployable solutions that can operate reliably in the most challenging and hostile environments.”
The Vislink Technologies news for Wednesday has VISL stock soaring up 317% as of noon. It’s also a major boon to the stock by pushing it above its highest price of $4.70 back in March. It’s worth noting that this also erases the stock’s year-to-date decrease of 50%.
Vislink Technologies is a company with a 50-year history of creating and shipping out solutions for advanced communications. This includes high definition live video and other data to customers that use the company’ devices.
As of this writing, William White did not hold a position in any of the aforementioned securities.