10th Sep 2024 14:30
Ethernity Networks Ltd - Israeli supplier of data processing semiconductor technology for networking appliances - US government approves the USD1.1 million contract signed with a tier 1 US-based aerospace vendor. The contract will see Ethernity provide the customer with silicon-tuned software to enable specific networking functionalities. For projects such as this using foreign suppliers, it is customary for contracts to be subject to US government review before securing approval.
Ethernity says: "We are now happy to update that the project has been granted US government approval, and will shortly move to the implementation phase, triggering immediate payment in respect of the milestones that have already been delivered by the company, representing 40% of the contract value."
Current stock price: 0.36 pence, up 17% on Tuesday afternoon in London
12-month change: down 73%
By Elijah Dale, Alliance News reporter
Comments and questions to [email protected]
Copyright 2024 Alliance News Ltd. All Rights Reserved.