21st Nov 2018 10:06
LONDON (Alliance News) - Ethernity Networks Ltd on Wednesday said it inked a new supply contract with an unnamed Tier 1 North American aviation and defence original equipment manufacturer to supply its ENET firmware.
Shares in the network processing technology product supplier were up 21%, trading at 23.0 pence each on the back of the news.
Ethernity said the contract is worth USD400,000 in short-term revenue with additional future royalty streams.
Under the terms of the deal, the company will integrate its ENET Switch/Router firmware on the customer's field-programmable gate array-based avionics platform.
Chief Executive Officer David Levi said: "This [contract] further enables us to build strong partnerships with industry leaders in the various markets that require customised networking solutions."
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