Ethernity Networks Ltd (AIM:ENET, OTCQB:ENETF) has secured a $1.05 million license agreement with a new customer, described as a ‘Tier 1 US-based aerospace system products provider’.
The contract sees the delivery of Ethernity’s silicon-tuned software to enable networking functionalities on an FPGA device for the customer’s platform.
The majority of the delivery is expected to be completed in the second half of 2024.
Ethernity added that it believes collaboration with the new customer could lead talks later this year and next year, to potentially expand the deal in the coming years.
The order is conditional upon US Government approval, as is customary for contracts related to US aerospace projects, such approval is expected in August.
"We are excited to partner with this prestigious aerospace Customer to empower their next-generation solutions." chief executive David Levi said in a statement.
"We are committed to delivering exceptional value and exceeding their expectations throughout this collaboration."