Share Price.com
Market Update Economic Events Directors Deals Commodities Prices News Market Movers

Ethernity Networks wins contract with North American tier 1 telecoms manufacturer

Wednesday, 24th October 2018
Ethernity Networks said Wednesday it had signed a contract, worth nearly $0.5m in revenue, to supply its proprietary firmware to a North American tier 1 telecommunications manufacturer.

The contract represented nearly $0.5m in short-term revenue for Ethernity and, is further expected to generate an estimated $2m in future royalty streams over the next 30 to 36 months, with additional royalty streams extending thereafter, the company said.

The company said it had also engaged in discussions to apply its firmware and software to the customer's broadband switch and router platforms, which, if successfully concluded, would add significantly to the ongoing royalty stream.

'We are very pleased to have successfully concluded this agreement with a tier 1 OEM, and we believe this will be the first of many similar agreements with customers in the future,'said Ethernity's CEO David Levi.

'This supply 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.'


At 9:56am: (LON:ENET) Ethernity Networks Ltd share price was +4p at 24p



Story provided by StockMarketWire.com

Related Shares: Ethernity Net

Share Search
Share Search Share Search

Visit the Share Search.
Share Search

Share News
Share News



SharePrice.com will do their best to ensure the quality of the information displayed on this site, but all information is provided as-is, free of charge. We cannot be held responsible for any loss, material or otherwise, due to incorrect information found here. UK data supplied by NBTrader and Digital Look. Share Prices are at least 15 minutes delayed.