REG - EnSilica PLC - New Contract for a Timing Controller ASIC

EnSilicaAnnouncement

06/12/2024 07:00

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RNS Number : 0461P  EnSilica PLC  06 December 2024

The information contained within this announcement was deemed by the Company
to constitute inside information as stipulated under the UK Market Abuse
Regulation.

 

6 December 2024

 

EnSilica plc

("EnSilica", the "Company" or the "Group")

 

New Contract for a Timing Controller ASIC

 

Contract value projected to exceed US$30m based on forecasts

 

EnSilica (AIM: ENSI), a leading chip maker of mixed signal ASICs (Application
Specific Integrated Circuits), is pleased to announce that it has been awarded
a contract for the design and supply of a precision timing controller ASIC to
be used in high-value industrial test equipment products (the "Contract").

 

The total value of the Contract, including non-recurring engineering ("NRE")
and supply, is projected to exceed US$30m over 10 years, based on quoted NRE
fees and the client's forecast production volumes.

 

EnSilica was selected by this industrial test equipment provider due to its
world-class mixed signal design experience and relevant intellectual property
portfolio.

 

The Contract will commence imminently, with NRE revenues falling into
EnSilica's current and next financial years, underpinning current consensus
market expectations. The supply revenue is forecast to commence in mid-2026.

 

Out of the three prospective design and supply contracts in the negotiation
stage that were referred to in the Company's announcement on 5 November 2024,
two have now been secured and announced by EnSilica. These contracts come with
significant upfront payments.

 

Ian Lankshear, Chief Executive Officer of EnSilica, commented:

 

"We are very pleased to have secured our fifth design and supply contract this
financial year, demonstrating our strong market reach and technical offering.
Through this ASIC, EnSilica will deliver key differentiation features to our
customer's high-value industrial test equipment products.

 

EnSilica continues to be a go-to partner of choice for businesses across the
globe looking for industry-leading ASIC design, supply and consultancy
know-how, and we look forward to building on our robust new contract momentum
in the remainder of the financial year and beyond."

 

For further information please contact:

 

 EnSilica plc                                                        via Vigo Consulting

 Ian Lankshear, Chief Executive Officer                              +44 (0)20 7390 0233

 Kristoff Rademan, Chief Financial Officer

 www.ensilica.com (http://www.ensilica.com/)

 Allenby Capital Limited, Nominated Adviser & Joint Broker           +44 (0)20 3328 5656

 Jeremy Porter / Vivek Bhardwaj (Corporate Finance)                  info@allenbycapital.com (mailto:info@allenbycapital.com)

 Joscelin Pinnington / Tony Quirke (Sales & Corporate Broking)

 Singer Capital Markets, Joint Broker

 Rick Thompson / Asha Chotai                                         +44 (0)20 7496 3000

 Vigo Consulting (Investor & Financial Public Relations)             +44 (0)20 7390 0233 ensilica@vigoconsulting.com

                                                                   (mailto:visum@vigoconsulting.com)
 Jeremy Garcia / Kendall Hill / Anna Stacey

 

The person responsible for arranging release of this announcement on behalf of
the Company is Ian Lankshear, Chief Executive Officer.

 

About EnSilica

 

EnSilica is a leading fabless design house focused on custom ASIC design and
supply for OEMs and system houses, as well as IC design services for companies
with their own design teams. The company has world-class expertise in
supplying custom RF, mmWave, mixed signal and digital ICs to its international
customers in the automotive, industrial, healthcare and communications
markets. The company also offers a broad portfolio of core IP covering
cryptography, radar, and communications systems. EnSilica has a track record
in delivering high quality solutions to demanding industry standards. The
company is headquartered near Oxford, UK and has design centres across the UK
and in Bangalore, India and Porto Alegre, Brazil.

 

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