REG - Sondrel (Holdings) - Milestone Completion-Tapeout for Home Network ASIC

Sondrel (Holdings)Announcement

01/03/2023 07:01

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RNS Number : 3966R  Sondrel (Holdings) plc  01 March 2023

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

 

01 March 2023

 

Sondrel (Holdings) plc

("Sondrel", the "Company" and together with its subsidiaries the "Group")

 

Successful Key Milestone Completion - Tapeout for Home Network ASIC project

 

Sondrel (Holdings) plc (AIM: SND), the fabless semiconductor business
providing turnkey services in the design and delivery of 'application specific
integrated circuits' ("ASICs") and 'system on chips' ("SoCs") for leading
global technology brands, is pleased to announce that, as previewed in the
trading update announced on 15 February 2023, it has successfully taped out an
ASIC design (the "Project") for a leading provider of home network devices
(the ''Customer'').

 

The Customer approached Sondrel with a partially finished design looking to
utilise Sondrel's industry leading capabilities to complete the design of the
ASIC. The design phase of the Project has now been completed and the Project
taped out.  The Company will now progress with the New Product Introduction
(NPI) and prototyping services being provided to the Customer, ahead of the
product being released to production thereafter.

 

The Project design contract was awarded to the Company in late 2022 and was
fully funded by the Customer.

 

The Project is estimated to be worth £1.8 million to Sondrel in 2023,
encompassing the partial design and NPI phases referenced above, with a view
to the ASIC entering production at the start of 2024. Based on production
volumes and product lifetime currently projected by the Customer, revenues
associated with the production and supply of the ASIC could be worth in excess
of US$25 million over five years.

 

Tapeout signals completion of the design phase of an ASIC and the handover of
all data to the silicon foundry which is contracted to manufacture the ASIC.
This tapeout data is used to initiate the generation of photomasks by the
foundry, which are then used to produce prototype silicon wafers. These wafers
are then packaged and tested before delivery to the customer for prototype
assessment. Upon approval of the prototypes, further samples undergo
qualification and reliability testing before the product is released to
production.

 

Graham Curren, Chief Executive Officer of Sondrel, commented:

 

"I am pleased to announce this new tapeout, our second since our IPO in Q4
last year. This Customer wanted to benefit from Sondrel's expertise in
completing the design phase of one of its existing ASICs with Sondrel
subsequently responsible for taping out the design, new product introduction
and prototyping services. This is a clear validation of Sondrel's standing
within the market, with customers knowing they will get a fast and extremely
reliable service in the design of their chips.

 

"All of our end markets are supported by strong and enduring megatrends. This
project specifically is driven by the ongoing increase in data consumption and
demand for improved performance which has resulted in the need for
increasingly advanced wireless communication technologies.  We look forward
to progressing with the new product introduction and prototyping phases ahead
of the product entering production in 2024."

 

 

 

Ends

 

For further information:

 

 Sondrel (Holdings) plc                                        Via Buchanan
 Graham Curren, CEO                                            Tel: +44 (0) 20 7466 5000
 Joe Lopez, CFO

 Cenkos Securities plc                                         Tel: +44 (0)20 7397 8900
 Ben Jeynes / Katy Birkin / George Lawson - Corporate Finance
 Alex Pollen / Michael Johnson - Sales

 Buchanan Communications                                       Tel: +44 (0) 20 7466 5000
 Chris Lane                                                    sondrel@buchanan.uk.com

 Stephanie Whitmore
 Jack Devoy
 Abby Gilchrist

 

About Sondrel

Sondrel is a UK-based fabless semiconductor company specialising in high end,
complex digital Application Specific Integrated Circuits (ASICs) and System on
Chips (SOCs). It provides a full turnkey service in the design, prototyping,
testing, packaging and production of ASICs and SoCs.

 

The Company is one of only a few companies capable of designing and supplying
the higher-spec chips built on the most advanced semiconductor technologies,
selling into a range of hyper growth end markets such as high-performance
computing, automotive, artificial intelligence, VR/AR, video analytics, image
processing, mobile networking and data centres.  Sondrel designs have enabled
products by leading technology brands including Apple (iPhone), Sony
(PlayStation), Meta's (Oculus), Samsung, Google and Sony smartphones, JVC
(prosumer camcorders), Tesla and Mercedes-Benz cars.

 

Sondrel is well-established, with a 20-year track record of successful
delivery, supported by long standing ecosystem partnerships including Arm,
TSMC and Samsung. Headquartered in the UK, Sondrel has a global presence with
offices in UK, USA, China, India and Morocco.

 

For more information please visit: ir.sondrel.com

 

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