Ethernity Networks Ltd $1.5m order from existing customer (4042E)
June 29 2023 - 6:34AM
UK Regulatory
TIDMENET
RNS Number : 4042E
Ethernity Networks Ltd
29 June 2023
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the UK version of the Market Abuse Regulations (EU) No. 596/2014
("MAR"). With the publication of this announcement via a Regulatory
Information Service, this inside information is now considered to
be in the public domain.
29 June 2023
ETHERNITY NETWORKS LTD.
("Ethernity" or the "Company")
$1.5m order received from existing fixed wireless customer
-- Deliveries will commence immediately and payments are
scheduled to be received in stages, with the last payment due by
the end of the third quarter of 2023
Ethernity Networks (AIM: ENET.L; OTCQB: ENETF), a leading
supplier of data processing semiconductor technology for networking
appliances, is pleased to announce that it has received a purchase
order for $1.5m from its existing fixed wireless customer (the
"Customer"), to supply the Company's data processing system-on-chip
("SoC"), in staged deliveries during the third quarter of 2023. The
payments for the deliveries are to be received in stages with last
payment due by the end of the third quarter of 2023 and therefore
contribute towards the Company's revenue targets for 2023.
Ethernity has provided the Customer with its unique
silicon-tuned software which, thanks to the efficiency of the data
processing SoC's design, fits into low-cost FPGAs. Working in
concert with the Customer's radio technology in its tower-installed
base nodes, the Ethernity SoC provides advanced networking
functions, traffic control, and management for hundreds of homes
via the ENET SoC.
David Levi, CEO of Ethernity Networks, commented: "The support
we have provided to this customer over the past seven years has not
only led to this expansion of their business, but also to ongoing
development toward a second-generation FWA base station node. There
is clearly significant value in our collaboration with our
customers, as demonstrated by this order."
For further information, please contact:
Ethernity Networks Ltd Tel: +972 8 915 0392
David Levi, Chief Executive Officer
Mark Reichenberg, Chief Financial Officer
Allenby Capital Limited (Nominated Adviser Tel: +44 (0)20 3328
and Joint Broker) 5656
James Reeve / Piers Shimwell (Corporate
Finance)
Amrit Nahal (Sales and Corporate Broking)
Peterhouse Capital Limited (Joint Broker) Tel: +44 (0)20 7562
0930
Lucy Williams / Duncan Vasey / Eran Zucker
About Ethernity ( www.ethernitynet.com )
Ethernity Networks (AIM: ENET.L OTCQB: ENETF) provides
innovative, comprehensive networking and security solutions on
programmable hardware that increase telco/cloud network
infrastructure capacity. Ethernity's semiconductor logic offers
data processing functionality for different networking
applications, innovative patented wireless access technology, and
fibre access media controllers, all equipped with control software
with a rich set of networking features. Ethernity's solutions
quickly adapt to customers' changing needs, improving
time-to-market, and facilitating the deployment of 5G over wireless
and fibre infrastructure.
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END
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