Armstrong Internet Equipment (A.I.E.) announced its plans to invest $5.5 million in an Internet equipment manufacturing plant in Georgia.The move is the latest in a string of announcements that have been made by the Georgia-based electronics manufacturer, which employs more than 7,000 people.The announcement is a further sign of the company's intentions to expand in the U.S.A.E. announced its inve...
Fibre Internet Equipment Co.
Olo, which makes equipment to provide fibre to the home for residential use, fell 3.7% on Tuesday as its shares fell 4.3% on Thursday.
The company reported that revenue for the third quarter ended June 30 was down 11.7 billion yen ($2.1 billion) compared to the same period a year earlier.
The company’s profit fell 4%, mainly due to lower operating income from the company’s joint venture with Japan’s Softbank Corp. Softbank has been a major shareholder in Olo.
The investment by Softbank is expected to be worth $100 billion, said an official at Olo’s parent company.
The stock had lost more than 6% this year.
The shares were down about 10% on Monday and had dropped by 10% as of Tuesday afternoon.
Ola has been struggling to gain traction in the world of fibre-optic Internet and is currently at the tail end of its expansion into the Chinese market.
Oli also reported a loss of 7.3 billion yen in the third-quarter, the same as the previous year.