Share Name Share Symbol Market Type Share ISIN Share Description
Ethernity Networks Ltd LSE:ENET London Ordinary Share IL0011410359 ORD NIS0.001 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.00 -5.0% 19.00 18.00 20.00 20.00 19.00 20.00 42,455 10:23:17
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 1.0 -3.4 -12.1 - 6

Ethernity Networks Signs Second Design Contract With North American Tier-1 OEM

30/04/2020 12:00pm

PR Newswire (US)

Ethernity Networks (LSE:ENET)
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LOD, Israel, April 30, 2020 /PRNewswire/ -- Ethernity Networks (AIM: ENET.L), a leading supplier of data processing offload solutions on programmable hardware for functional acceleration of telco/cloud networks, announced today that it has signed a second design win contract for its ENET Flow Processor technology with an existing North American tier-1 telecommunications OEM customer. Ethernity will supply its ENET Switch and Traffic Manager firmware to support performance of 200Gbps on the customer's new xPON optical light termination (OLT) device.

The Company signed its first licensing deal with the customer in 2018, and following successful field deployment of that platform, the customer has now progressed to a next-generation product based on Ethernity's advanced technology. The ENET solution will be customised to fit the customer's new OLT platform, which, in addition to Ethernity's ENET Flow Processor core functionality (including hierarchical traffic management, switching, and access control list), will also include Ethernity's new 400Gbps fabric technology to allow cascading of multiple chassis to form a virtual chassis cluster.

The customer intends to deploy its new OLT platform in H2/2021. Given the popularity of the platform and the size of the OEM, the new product is anticipated to generate significant ongoing royalty streams for the Company, added to significant short-term revenue as detailed in the new contract.

"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," said Ethernity's CEO David Levi. "This 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."

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.

Media and Analyst contact: Kevin Tanzillo
Email: Tel: +1-903-865-1078 

Investor Relations and Media contact: Marc Cohen/Tom Gilby
Email: Tel: +44-20-7284-6969  



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