The Company reports that its subsidiary, Etherstack Wireless Ltd, will provide Samsung a license to existing technology for the purposes of assisting integration of the joint solution aimed at the telecommunications carrier market, as previously disclosed in the Global Teaming Agreement announcement in June 2020.

This initial US$1.2m license 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 is expected that initial carrier sales will occur during calendar 2021. These deals, subject to signing, would trigger additional license and support revenues and will be announced at that time.

DIsC: I hold

Etherstack signs new Australian Defence Contract

The Company is pleased to report that its subsidiary Etherstack Pty Ltd has entered into a subcontract with EOS Defence Systems Pty Ltd, a member of the Electro Optic Systems Holdings Limited (ASX: EOS) group, to supply services in relation to a project with the Australian Department of Defence.

The value of services to be provided under the contract is approximately A$500,000 which the Company expects will be fully recognised in FY2021.

This award is a second defence contract win by Etherstack, following on from the recently announced A$4.1m deal directly with the Australian Department of Defence.

Management has previously highlighted Etherstack’s positive exposure to defence and government spending in investor presentations and trading updates. Etherstack CEO, David Deacon said, “We are pleased that the Australian Department of Defence are committing to Australian Industry Content via meaningful awards. Etherstack has had significant international defence wins over the past two decades and it is great to be winning and delivering projects in our home market”.

DIsc: I hold