EnSilica PLC (AIM:ENSI) jumped 7% as it announced a design and supply contract for a mixed signal controller ASIC chip to be used in automotive and industrial motorised actuators.
The customer is a European supplier to most major automotive and industrial original equipment manufacturers (OEMs), Ensilica added, with the value of the contract expected to be US$31 million over seven years.
Ensilica said it was chosen due to its relevant mixed-signal design experience and track record of bringing to volume production chips that meet stringent automotive and industrial standards.
Ian Lankshear, chief executive, added the contract underpins its position as “one of the leading custom ASIC suppliers for industrial and automotive applications”.
“Our new European customer has excellent standing in the industry, and we are very pleased to become their ASIC partner of choice.
“This design win adds to the strong portfolio of ASICs we have in the design phase, further supporting the visibility of our recurring revenues."
ASICs are computer chips adjusted for a specific purpose.
Shares rose 3.5p to 50.5p.