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Giga-Tronics skyrockets on software deal with Lockheed Martin

Last updated: 11:42 01 Dec 2015 EST, First published: 06:42 01 Dec 2015 EST

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Shares in Giga-Tronics (NASDAQ:GIGA) rocketed over 174% to US$2.96 on Tuesday as it unveiled a software licensing deal with Lockheed Martin...

Shares in Giga-Tronics (NASDAQ:GIGA) rocketed over 174% to US$2.96 on Tuesday as it unveiled a software licensing deal with Lockheed Martin.

Instrument maker Giga-tronics will develop and license threat simulation software as a commercial product and it expects to ship the new software within six months.

Financial terms of the deal were not disclosed.

Giga-tronics products have applications in defense electronics, aeronautics and wireless telecommunications.

John Regazzi, chief executive of Giga-tronics, said: “Lockheed Martin was one of the initial Advanced Signal Generator customers, this partnership demonstrates their belief in its potential and capabilities.”

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