Business
Contract Win
Contract Win.
About this update from Ethernity Networks Ltd.
[{"type":"text","content":"\n\n28 June 2024\nETHERNITY NETWORKS LTD.\n(\"Ethernity\" or the \"Company\")\n \nContract win\n \nEthernity Networks Secures $1.05 Million License Contract with a new Tier 1 US Aerospace OEM\n \nEthernity Networks (AIM: ENET.L; OTCMKTS: ENETF), a leading supplier of data processing semiconductor technology for networking appliances, announces that it has secured a license agreement (\"Agreement\") with a new Tier 1 US-based aerospace system products provider (the \"Customer\").\n \nHighlights:\n \n· Value: $1.05 million total license fees, with majority of delivery expected to be completed during H2 2024;\n \n· the Agreement will utilise Ethernity Networks' silicon-tuned software supporting specific networking capabilities on a Field-Programmable Gate Array (\"FPGA\") device for the Customer's platform.\n \nThe Agreement with a Tier 1 US aerospace leader marks a significant win for Ethernity Networks, demonstrating Ethernity leadership. Under the Agreement, Ethernity will deliver its silicon-tuned software, enabling specific networking functionalities on an FPGA device for the Customer's unique platform. The Agreement represents a total license fee of $1.05 million. The Directors of Ethernity also believe that collaboration with this Tier 1 Customer presents the potential for further discussions in H2 2024 and 2025 to address the Customer's evolving needs, potentially expanding the deal value in the coming years.\n \nThe implementation of the project and tight collaboration with the Customer for the development of their product, which is based on the ENET Data Flow Processor, is conditional on approval from the U.S. Government, as is customary for U.S. Aerospace projects. This approval is estimated to be granted no later than August 2024. An equivalent approval was previously granted to a different US Aerospace customer of Ethernity.\n \n\"We are excited to partner with this prestigious aerospace Customer to empower their next-generation solutions.\" said David Levi, CEO of Ethernity Networks. \"We are committed to delivering exceptional value and exceeding their expectations throughout this collaboration.\"\n \nFor further information, please contact:\n \n\n\n\n\nEthernity Networks Ltd\n\n\nTel: +972 3 748 9846\n\n\n\n\nDavid Levi, C...