TESSCO Technologies Incorporated ( TESS Quick Quote TESS - Free Report) recently announced its collaboration with Federated Wireless, a wireless communications company, to propel the adoption of Citizens Broadband Radio Service (CBRS) in the private wireless market. The agreement is primarily focused at deploying best-in-class CBRS solutions while addressing its accretive requirements in industries such as transportation and manufacturing with a streamlined connectivity infrastructure. It is worth mentioning that TESSCO supplies more than 50,000 products from 400 of the industry’s top manufacturers in mobile communications, Wi-Fi, and wireless backhaul, among others. Recognized as a forerunner in CBRS shared spectrum technology, Federated Wireless is a communication services provider that is equipped with a partner ecosystem of more than 40 device manufacturers and edge partners. With a diverse customer base ranging from telecommunications and education to retail and residential verticals, Federated Wireless is touted as the first company to conclude a broad range of network tests with its Spectrum Controller. In fact, it also brings forth new advanced use cases such as Industrial IoT and network densification. As majority of operators are striving to evolve the scenario of wireless communications globally, CBRS plays an important role in supporting the exponential data growth with enhanced spectral efficiency. Markedly, the game changing collaboration will fast-track the commercial adoption of CBRS in the private wireless market while providing a comprehensive range of CBRS solutions to both customers and suppliers. Interestingly, both TESSCO and Federated Wireless are part of the CBRS Alliance. The CBRS Alliance drives technological innovations to ensure multi-vendor interoperability on the back of 3.5 GHz band spectrum in the United States. Apart from Federated Wireless, some of its sponsor members are Intel Corporation ( INTC Quick Quote INTC - Free Report) , Motorola Solutions, Inc. ( MSI Quick Quote MSI - Free Report) and Ericsson ( ERIC Quick Quote ERIC - Free Report) . Backed by such dedicated endeavors, the partnership will not only boost the deployment process of CBRS private wireless networks but also reinforce TESSCO’s position with best-in-class operational and technical capabilities. Moving forward, TESSCO expects to record business growth in fiscal 2021 on a healthy balance sheet position. While undertaking various initiatives to slash operating costs, the company continues to advance its strategic initiatives by investing in its Ventev business, commercial sales and product teams, software and service initiatives as well as other technological advances. Notably, the latest partnership is likely to develop TESSCO’s long-standing relationships with other major players in the global market, thereby ensuring a steady revenue stream in the long run. TESSCO is well placed to capitalize on the exponential growth of the industry. It is undertaking measures to improve profitability in the long term. Shares of the Zacks Rank #3 (Hold) company have returned 5.6% compared with the industry’s growth of 29.4% in the past three months. You can see . the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here Biggest Tech Breakthrough in a Generation
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