UPDATE 1-Alvarion to provide WiMax technology to Italian carrier

* Tie-up with Aria Spa to offer 4G mobile WiMAX technology

* Shares up 15 pct

June 23 (Reuters) - Israel-based Alvarion Ltd (ALVR.O), a maker of wireless telecommunications equipment, said it has tied up with Italian telecom operator Aria SpA to deploy mobile WiMax network throughout the country.

Shares of the company were up about 15 percent to $4.52 in early trading on Nasdaq.

Under the agreement, Aria will use Alvarion's technology to provide 4G mobile broadband services to businesses and residential subscribers at a frequency of 3.5 giga hertz, the companies said in a statement.

WiMax is a technology used to offer local wireless broadband services over vast distances.

Aria purchased the license to WiMax 3.5 Giga Hertz radio frequencies in all Italian regions in an auction last January.

Last week, Alvarion bagged a five-year contract worth more than $100 million with Colorado-based Open Range Communications Inc to enhance broadband access in rural areas. (Reporting by Manasi Phadke in Bangalore, Editing by Saumyadeb Chakrabarty)