Ethernity Networks Ltd Design Contract with North American Tier-1 OEM (4013L)
April 30 2020 - 2:00AM
UK Regulatory
TIDMENET
RNS Number : 4013L
Ethernity Networks Ltd
30 April 2020
30 April 2020
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
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.
ETHERNITY NETWORKS LIMITED
("Ethernity" or the "Company")
Design Contract with North American Tier-1 OEM
Ethernity Networks (AIM: ENET.L), a leading supplier of data
processing offload solutions on programmable hardware for
functional accelerating of telco/cloud networks is pleased to
announce the signing of a new design contract with a North American
tier-1 telecommunications OEM.
Summary of Key Terms
-- Design win contract for Ethernity flow processor technology,
including ENET Switch and Traffic Manager firmware, to support
200Gbps performance on customer's xPON optical light termination
("OLT") device;
-- $495,000 upfront payment to Ethernity of in respect of design
fee and prepayment of initial royalties;
-- Annual revenue of up to $240,000 p.a. for continued product
development and ongoing Ethernity engineering support of the
previously licenced technology with the customer; and,
-- Anticipated ongoing royalty payments to Ethernity based on
expected scale of the deployment OLT platform by the OEM partner
from H2 2021.
This contract represents a further development of the
relationship with an existing North American tier-1
telecommunications OEM customer following an initial licensing deal
in 2018. Following a successful field deployment of the previously
licenced Ethernity platform, the customer has now advanced to
deployment of a next-generation product based on Ethernity's
advanced technology.
The Ethernity solution will be customised to fit the customer's
new OLT platform, which, in addition to Ethernity's ENET Flow
Processor core functionality includes hierarchical traffic
management, switching, and access control list (ACL). It will also
include Ethernity's new 400Gbps Fabric technology to allow
cascading multiple chassis to form a virtual chassis cluster.
Deployment of the new OLT platform is expected in H2 2021. At
such time, and based on current expectation of the scale of
deployment of the platform and the size of the OEM, Ethernity
anticipates the contract to result in significant ongoing royalty
streams for the Company. These would be in addition to ongoing
royalties from the previous platform with the customer.
David Levi, CEO of Ethernity said "We are pleased to have
received this new platform design win order, and we look forward to
developing additional new platforms for this customer's appliances
in other vertical markets. This design win contract confirms that
our extensive networking functionality offers tremendous value to
the market and is an example of how we can build strong
partnerships with industry leaders."
For further information, please contact:
Ethernity Networks Tel: +972 8 915 0392
David Levi, Chief Executive Officer
Mark Reichenberg, Chief Financial Officer
Arden Partners plc (NOMAD and Broker) Tel: +44 207 614 5900
Richard Johnson / Benjamin Cryer
The PR Office Tel: +44207 284 6969
Marc Cohen/Tom Gilby
ethernity@theproffice.com
About Ethernity Networks
Ethernity Networks (AIM: ENET.L) provides innovative,
comprehensive networking and security solutions on programmable
hardware for accelerating telco/cloud networks. Ethernity's FPGA
logic offers complete Carrier Ethernet Switch Router data plane
processing and control software with a rich set of networking
features, robust security, and a wide range of virtual function
accelerations to optimize telecommunications networks. Ethernity's
complete solutions quickly adapt to customers' changing needs,
improving time-to-market and facilitating the deployment of 5G,
edge computing, and NFV.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
CNTFFFVISEIAFII
(END) Dow Jones Newswires
April 30, 2020 02:00 ET (06:00 GMT)
Ethernity Networks (LSE:ENET)
Historical Stock Chart
From Mar 2024 to Apr 2024
Ethernity Networks (LSE:ENET)
Historical Stock Chart
From Apr 2023 to Apr 2024