Sondrel (Holdings) plc Milestone Completion-Tapeout for Home Network ASIC (3966R)
March 01 2023 - 2:00AM
UK Regulatory
TIDMSND
RNS Number : 3966R
Sondrel (Holdings) plc
01 March 2023
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the UK Market Abuse Regulation
01 March 2023
Sondrel (Holdings) plc
("Sondrel", the "Company" and together with its subsidiaries the
"Group")
Successful Key Milestone Completion - Tapeout for Home Network
ASIC project
Sondrel (Holdings) plc (AIM: SND), the fabless semiconductor
business providing turnkey services in the design and delivery of
'application specific integrated circuits' ("ASICs") and 'system on
chips' ("SoCs") for leading global technology brands, is pleased to
announce that, as previewed in the trading update announced on 15
February 2023, it has successfully taped out an ASIC design (the
"Project") for a leading provider of home network devices (the
"Customer").
The Customer approached Sondrel with a partially finished design
looking to utilise Sondrel's industry leading capabilities to
complete the design of the ASIC. The design phase of the Project
has now been completed and the Project taped out. The Company will
now progress with the New Product Introduction (NPI) and
prototyping services being provided to the Customer, ahead of the
product being released to production thereafter.
The Project design contract was awarded to the Company in late
2022 and was fully funded by the Customer.
The Project is estimated to be worth GBP1.8 million to Sondrel
in 2023, encompassing the partial design and NPI phases referenced
above, with a view to the ASIC entering production at the start of
2024. Based on production volumes and product lifetime currently
projected by the Customer, revenues associated with the production
and supply of the ASIC could be worth in excess of US$25 million
over five years.
Tapeout signals completion of the design phase of an ASIC and
the handover of all data to the silicon foundry which is contracted
to manufacture the ASIC. This tapeout data is used to initiate the
generation of photomasks by the foundry, which are then used to
produce prototype silicon wafers. These wafers are then packaged
and tested before delivery to the customer for prototype
assessment. Upon approval of the prototypes, further samples
undergo qualification and reliability testing before the product is
released to production.
Graham Curren, Chief Executive Officer of Sondrel,
commented:
"I am pleased to announce this new tapeout, our second since our
IPO in Q4 last year. This Customer wanted to benefit from Sondrel's
expertise in completing the design phase of one of its existing
ASICs with Sondrel subsequently responsible for taping out the
design, new product introduction and prototyping services. This is
a clear validation of Sondrel's standing within the market, with
customers knowing they will get a fast and extremely reliable
service in the design of their chips.
"A ll of our end markets are supported by strong and enduring
megatrends. This project specifically is driven by the ongoing
increase in data consumption and demand for improved performance
which has resulted in the need for increasingly advanced wireless
communication technologies. We look forward to progressing with the
new product introduction and prototyping phases ahead of the
product entering production in 2024."
Ends
For further information:
Sondrel (Holdings) plc Via Buchanan
Graham Curren, CEO Tel: +44 (0) 20 7466
5000
Joe Lopez, CFO
Cenkos Securities plc Tel: +44 (0)20 7397
8900
Ben Jeynes / Katy Birkin / George Lawson
- Corporate Finance
Alex Pollen / Michael Johnson - Sales
Buchanan Communications Tel: +44 (0) 20 7466
5000
Chris Lane sondrel@buchanan.uk.com
Stephanie Whitmore
Jack Devoy
Abby Gilchrist
About Sondrel
Sondrel is a UK-based fabless semiconductor company specialising
in high end, complex digital Application Specific Integrated
Circuits (ASICs) and System on Chips (SOCs). It provides a full
turnkey service in the design, prototyping, testing, packaging and
production of ASICs and SoCs.
The Company is one of only a few companies capable of designing
and supplying the higher-spec chips built on the most advanced
semiconductor technologies, selling into a range of hyper growth
end markets such as high-performance computing, automotive,
artificial intelligence, VR/AR, video analytics, image processing,
mobile networking and data centres. Sondrel designs have enabled
products by leading technology brands including Apple (iPhone),
Sony (PlayStation), Meta's (Oculus), Samsung, Google and Sony
smartphones, JVC (prosumer camcorders), Tesla and Mercedes-Benz
cars.
Sondrel is well-established, with a 20-year track record of
successful delivery, supported by long standing ecosystem
partnerships including Arm, TSMC and Samsung. Headquartered in the
UK, Sondrel has a global presence with offices in UK, USA, China,
India and Morocco.
For more information please visit: ir.sondrel.com
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