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RNS Number : 9080Z

Ethernity Networks Ltd

27 May 2021

27 May 2021

ETHERNITY NETWORKS LIMITED

("Ethernity" or the "Company")

Ethernity Receives $2m Orders from Tarana

Highlights

   --    A total of $2m in customer orders from Tarana Wireless to supply the Company's ENET FPGA SoC; 
   --    The orders include $740k worth of orders for 2021, c. 50% over previous expectations; 
   --    $1.26m in orders for 2022, which may increase further; and

-- Despite the challenge of the worldwide component shortage , the Company has secured supplies of required components for the remainder of the year.

Ethernity CEO David Levi said : "We are delighted to see that the rate of deployment has exceeded original expectations as evidenced by the accelerated orders we have now received from Tarana for this year and next. It has been especially encouraging to see Tarana's customers releasing their services based on this product, and we are extremely pleased to have contributed to the technology behind it. As we continue to work with Tarana on future generations, we are confident that this can be a mutually rewarding partnership for many years to come."

Details

Ethernity (AIM: ENET.L), a leading supplier of data processing offload solutions on programmable FPGA (field programmable gate array) hardware for accelerating telco/cloud networks, announces that further to its RNS of 6 April 2021, it has now received a total of $2m in customer orders from Tarana Wireless ("Tarana") to supply the Company's ENET FPGA SoC (system-on-a-chip).

The orders include $740k for delivery in 2021, which represents an increase of c. 50% over the previous expectations of the customer. The remaining $1.26m in orders are for 2022, based on Tarana's current 2022 sales commitments, and this amount could increase as demand for Tarana's G1 fixed wireless product continues to grow. Additional orders are expected for 2023.

Furthermore, Ethernity is pleased to report that it has successfully addressed the challenge of the worldwide component shortage referred to in the Company's update of 4 May 2021, and has secured adequate supplies from Xilinx of the required components for the remainder of the year.

Ethernity has provided Tarana with the Company's ENET 4820z FPGA SoC with unique silicon-tuned software, which, thanks to the efficiency of the ENET Flow Processor design, fits into low-cost FPGAs that are capable of meeting prices of mass production. Working in concert with Tarana's radio technology in its tower-installed base nodes, the ENET Flow Processor provides advanced networking functions, traffic control, and management for up to 512 homes per ENET SoC.

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.

For further information, please contact:

 
Ethernity Networks                           Tel: +972 8 915 0392 
David Levi, Chief Executive Officer 
Mark Reichenberg, Chief Financial Officer 
 
Arden Partners plc (NOMAD and Joint Broker)  Tel: +44 207 614 5900 
Richard Johnson 
Peterhouse Capital Limited (Joint Broker)    Tel: +44 20 7562 0930 
Lucy Williams / Duncan Vasey / Eran Zucker

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END

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May 27, 2021 02:00 ET (06:00 GMT)

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