EnSilica secures substantial US order
By Josh White
Date: Wednesday 28 Feb 2024
(Sharecast News) - Application-specific integrated circuit (ASIC) specialist EnSilica announced a substantial order for the tape-out of a bespoke ASIC from a major US-based electronics manufacturer on Wednesday.
The AIM-traded firm said the deal, valued at $20m, would span the calendar years 2025 and 2026.
It said the tape-out process signifies the finalisation of ASIC design before it is forwarded to the foundry for fabrication.
EnSilica attributed the supply win to its global engineering and support team's efforts, combined with its extensive expertise in various chip technologies.
Notably, the order represented the inaugural collaboration with EnSilica's new silicon foundry channel partner for manufacturing-only services in the US market.
With the United States being identified as a substantial growth arena, EnSilica's management said it was actively pursuing similar opportunities.
"We are delighted to announce this supply win from the US, which reinforces our position as a quality-focussed supply partner for customers and further strengthens our foundry partnerships in the US," said chief executive officer Ian Lankshear.
"The US now represents a sizable growth opportunity for the group, and we believe the award of this contract has the potential to generate further business, thereby bolstering our near-term revenue growth and cash-generation."
At 1417 GMT, shares in EnSilica were up 16.1% at 71.4p.
Reporting by Josh White for Sharecast.com.
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