StockMarketWire.com - Networking processing technology company Ethernity Networks said it had signed a new contract with an existing OEM customer, based in St Petersburg, Russia, to upgrade an existing hardware platform.

The hardware would be deployed as an enterprise 1Gbps/10Gbps customer premises equipment (CPE) router appliance supporting 'tens of thousands of flows with integrated security,' the company said.

The agreement provided for stage payments totalling $190K on a milestone basis during 2020 and 2021, followed by ongoing product sale revenues anticipated at between $80 to $150 per Ethernity ENET System-on-Chip (SoC), the company said.

Based on the nature of the appliance as an enterprise router CPE, pending successful execution the customer anticipates shipment of c. 10,000 units during 2021, which would lead to additional product revenue in excess of $1m to Ethernity.








At 9:55am: [LON:ENET] Ethernity Networks Ltd share price was +1.5p at 16.5p



Story provided by StockMarketWire.com