Subject: LIC
Sivers Semiconductors extends partnership with Strategic Lead SATCOM Customer
As part of a USD $4.73 million deal, the European SATCOM semiconductor leader will develop a next-generation advanced ground terminal beamformer chipset
KISTA, Sweden, March 21, 2024 /PRNewswire/ -- Sivers Semiconductors AB (STO: SIVE), a leading supplier of integrated chips and modules for the most advanced communications and sensor solutions, today announced that its subsidiary Sivers Wireless has signed a third product development agreement with its lead European Satellite Company.
This new contract, valued at USD $4,73 million, covers the development of next-generation production-ready beamformer chipsets during 2024 and 2025. The agreement is expected to move to volume manufacturing in Q4 2025. These beamformers are advanced versions, with new features and capabilities, of the existing beamformers that were originally developed for this customer as a part of the first development agreement signed in Dec 2020 and are in mass production today.
The other, i.e. second, ongoing development project, involving multiple other chipsets that supplement the beamformers, and signed in December 2022 at a contract value of $16.4 million, has expanded by approximately $2 million over the last year. The various chipsets are expected to complete development at different points in the coming 18 months, an extension of around a year over the original schedule due to re-prioritization of one of the chipsets, with $7.4M of development revenue left to recognize over that period, and then ramp to volume production.
Sivers, a recognized leader in advanced Beam Former ICs (BFICs) for SATCOM ground terminals, is ideally placed to capitalize on the rising demand for a large range of SATCOM terminals catering to various Defense to Enterprise use cases that are driven by an increased need for connectivity anywhere. This third project with this customer will further expand Sivers' footprint into the rapidly evolving SATCOM sector.
"Deepening our strategic partnership with this customer is a testament to our mission to shape the future of connectivity worldwide. This new project is yet another opportunity to develop even more SATCOM products, reaffirming our position in the heart of innovation," said Anders Storm, Group CEO of Sivers Semiconductors.
For more information please contact:
Anders Storm, CEO
Tel: +46 70 262 6390
E-mail: [email protected]
This disclosure contains information that Sivers Semiconductors is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the contact person set out, on March 21, 2024, 08:00 CET.
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SOURCE Sivers Semiconductors
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