While the stock has taken a beating over the last six months, Israeli WiMAX player Alvarion (NASDAQ: ALVR) continues to sign deal after deal. On Tuesady, the company announced a deal with AccessKenya Group for, "Alvarion to supply WiMAX equipment for what will be the country's largest WiMAX network. AccessKenya will invest $3.5 million to build the network, which will initially include 35 base stations in Nairobi and the port of Mombasa."

Today the company announced another deal. This one is with Balticum TV. Alvarion is "supplying its BreezeMAX network to Balticum TV for deployment in the three Baltic states Latvia, Lithuania and Estonia.

Alvarion is very strong in the developing world. It has been growing revenues by over 30% a year, and sports more than 225 WiMAX commercial deployments.

If WiMAX never takes hold in North America, that may present some downward pressure on the stock. On the other hand, it is very strong in the developing world. For long-term investors looking for a beaten up company in the WiMAX space, you may want to spend some time researching Alvarion.

Aaron Katsman is the lead Portfolio Manager and Managing Director of America Israel Investment Associates, LLC. and Senior Editor of IsraelNewsletter.com. DISCLOSURE: Writer's fund has a position in ALVR and is long the stock. He has no position in any other stock mentioned, as of 5/27/08