Etherstack signs NEC Corporation licensing deal
Critical radio technologies company Etherstack (ASX:ESK) has signed a substantial licensing contract with technology company NEC Corporation.
Through the deal ESK’s wireless technology will be incorporated into NEC’s products.
NEC is a leader in the integration of IT and network technologies, having been in business for over 100 years.
The contract is expected to add 60 million Japanese Yen (A$770,000) to ESK’s 2016 revenues.
ESK’s R&D centre based in Yokohama that has been in operation for over 10 years and will provide local support to NEC.
The technology itself will be delivered to NEC by ESK’s multinational team of engineers.
ESK CEO David Deacon notes that by integrating tried and tested ESK technology, NEC will be able to de-risk and accelerate delivery of sophisticated radio systems.
Full year revenue guidance for ESK in 2016 is set to be between US$5.8M and US$6.1M.
ESK having earned in excess of $100m in revenues since 2007.
However this should not be used as a projection of future revenues or profit. Please seek professional financial advice before making any investment decision.