Ethernity Networks Ltd (ENET)

Sector:

IT Hardware

Index:

FTSE AIM All-Share

0.92p
   
  • Change Today:
      0.017p
  • 52 Week High: 6.25
  • 52 Week Low: 0.25
  • Currency: UK Pounds
  • Shares Issued: 377.64m
  • Volume: 1,556,183
  • Market Cap: £3.46m
  • RiskGrade: 393

Ethernity signs technology deal with Indian manufacturer

By Josh White

Date: Tuesday 22 Sep 2020

LONDON (ShareCast) - (Sharecast News) - Networking technology company Ethernity has signed a contract to provide an Indian telecoms original equipment manufacturer (OEM) with end-to-end system functionality, it announced on Tuesday, to enable up to 360Gbps cell site router (CSR) appliances.
The AIM-traded firm said it would provide a complete 'vRouter' software stack running on top of its CSR FPGA firmware, embedded on an FPGA system-on-chip, that would be positioned by the manufacturer as a programmable router and security platform for Indian telco networks.

It said the contract provided for stage payments totalling $1.5m (£1.17m) on a milestone basis during 2020 and 2021, and included a committed order for design kit, initial design, FPGA, and software.

Subject to successful execution, the OEM was expecting the contract to lead to further "significant" annual revenues for Ethernity, from the supply of additional ENET FPGAs and vRouter software licenses for large-scale deployments.

The board said the new project was in response to recent demand for hardware disaggregation of Indian telecommunications networks, in which operators were seeking India-manufactured networking hardware.

As part of the contract, Ethernity said it would collaborate on a go-to-market partnership with the OEM that would facilitate its ability to offer its technology to Indian operators.

By licensing Ethernity's CSR firmware and layer 2 and layer 3 stack, the OEM had the necessary underlying system to manufacture an FPGA-based disaggregated solution for routing within the mobile network for a variety of use cases.

While the project was developed to address specific tenders already in process for the OEM, the ongoing collaboration would streamline the process for the OEM of bidding on new tenders using Ethernity technology, the board explained.

It said the OEM intended to use Ethernity's system to create server-based CSR appliances with an embedded programmable router data plane, and Ethernity's vRouter software stack, which could later be programmed for different 5G deployment scenarios.

The CSRs would support both legacy 3G and 4G LTE networks, and developing 5G networks.

"This deal represents a landmark achievement for Ethernity," said chief executive officer David Levi.

"It initiates a strategic partnership and opens a new channel in India for Ethernity, in which our new customer can manufacture and sell locally-produced hardware that incorporates our FPGA-based offerings."

At 1347 BST, shares in Ethernity Networks were up 12.5% at 18p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

ENET Market Data

Currency UK Pounds
Share Price 0.92p
Change Today 0.017p
% Change 1.85 %
52 Week High 6.25
52 Week Low 0.25
Volume 1,556,183
Shares Issued 377.64m
Market Cap £3.46m
RiskGrade 393

ENET Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
58.37% above the market average58.37% above the market average58.37% above the market average58.37% above the market average58.37% above the market average
41.67% above the sector average41.67% above the sector average41.67% above the sector average41.67% above the sector average41.67% above the sector average
Price Trend
97.81% below the market average97.81% below the market average97.81% below the market average97.81% below the market average97.81% below the market average
92% below the sector average92% below the sector average92% below the sector average92% below the sector average92% below the sector average
Income Not Available
Growth
19.83% above the market average19.83% above the market average19.83% above the market average19.83% above the market average19.83% above the market average
28% below the sector average28% below the sector average28% below the sector average28% below the sector average28% below the sector average

ENET Dividends

No dividends found

Trades for 03-May-2024

Time Volume / Share Price
11:10 35,101 @ 0.86p
10:40 105 @ 0.95p
10:35 2,574 @ 0.85p
10:35 105 @ 0.95p
10:34 117,209 @ 0.86p

ENET Key Personnel

CEO David Levi
CFO Ayala Deutsch

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