Etherstack (ASX:ESK) subsidiary signs deal for Samsung...

Etherstack (ASX:ESK) subsidiary signs deal for Samsung integration activities

Technology

ASX:ESK MCAP $81.63M

Julia Seymour [email protected] 18 February 2021 10:10

• Etherstack’s (ESK) subsidiary, Etherstack Wireless, has signed a US$1.2 million (roughly $A1.55 million) deal for Samsung integration activities
• Etherstack will provide Samsung with a licence to existing technology to help integrate the joint solution, aimed at the telecommunications carrier market
• The companies are working on multiple carrier pursuits, with initial carrier sales expected to occur over 2021
• Just last week, Etherstack inked a subcontract with EOS Defence systems — a subsidiary of Electro Optic Systems (EOS)
• Under the agreement, Etherstack will provide its services to the Australian Department of Defence for an upcoming project, bringing in $500,000 over FY21
• Etherstack is up 3.97 per cent, trading at 65.5 cents

Etherstack (ESK)’s subsidiary, Etherstack Wireless, has signed a US $1.2 million (roughly $A1.55 million) deal for Samsung integration activities.

Etherstack is a tech company that provides wireless communications software to mobile radio and defence industries in Europe, Asia and North America.

Etherstack will licence its existing technology to Samsung to help integrate a joint solution aimed at the telecommunications carrier market.

The initial licence does not represent a sale of the solution to an end carrier customer, but instead is related to ongoing development and integration activities between the companies.

The companies are currently working on multiple carrier pursuits, and it’s expected that initial carrier sales will occur over 2021.

Subject to signing, these deals would trigger additional licence and support revenues.

Just last week, Etherstack inked a subcontract with EOS Defence systems — a subsidiary of Electro Optic Systems (EOS).

Under the agreement, Etherstack will provide its services to the Australian Department of Defence for an upcoming project. The deal should bring in around $500,000 over FY21 and follows a $4.1 million contract signed with the Defence Department in December last year.

Etherstack is up 3.97 per cent, trading at 65.5 cents at 10:36 am AEDT.