Etherstack plc is pleased to advise the group’s North American subsidiary, Etherstack Inc., has signed a follow on US$2.3m deal to supply further digital radio communications technology to a North American channel partner, Daniels Electronics Ltd, a subsidiary of Codan Limited (ASX:CDA).
This renewal follows on from the US$1.35m deal announced in February 2020. The hardware components of the equipment to be supplied are manufactured in Australia by Etherstack.
The supply contract has an initial 6-year term and has provisions that are expected to generate Etherstack additional licensing and support revenues beyond the baseline US$2.3m. The majority of the baseline revenue will be recognised within the next 18 months.
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