Ethernity Networks Ltd on Friday said that it has signed a licence agreement with an aerospace system products provider in the US, worth $1.1 million.

Ethernity Networks is a Lod, Israel-based supplier of data processing semiconductor technology for networking appliances.

Shares in the company were up 36% at 0.99 pence each in London on Friday morning.

According to the terms of the agreement, Ethernity will deliver its silicon-tuned software, supporting specific networking capabilities on a field-programmable gate array device, for the unnamed customer’s platform.

In addition to the total licence fee, the firm said it believes this deal could lead to further collaboration in the second half of this year, onto 2025.

The implementation of the project is dependent on approval from the US government, as is customary for US aerospace projects. This is expected no later than August.

‘We are excited to partner with this prestigious aerospace customer to empower their next-generation solutions. We are committed to delivering exceptional value and exceeding their expectations throughout this collaboration,’ said Chief Executive Officer David Levi.

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