CLARIFICATION regarding earlier press release “Sivers Semiconductors signs $16.4 million strategic development agreement with European satellite communications company”
Sivers Semiconductors AB (“Sivers”) issues a clarification of the press release “Sivers Semiconductors signs $16.4 million strategic development agreement with European satellite communications company”, published on Friday December 2, 2022, at 18:00 CEST.
Sivers now wants to make the following clarification: Sivers estimates that up to 75 percent of the agreement will be revenue-recognized from the fourth quarter of 2022 through the end of 2023. In addition, Sivers expects that the number of chips from Sivers to this customer will increase between the current generation and the next generation of ground-based satellite terminals.
Development activities started in August 2022 and are planned to run until July 2024. The agreement includes the development of multiple chips, forming the core of the customer's next generation of ground terminals, hence Sivers expects that the number of chips from Sivers in the next generation of terminals to this customer will increase compared to the current generation, for which volumes will start being delivered from the first quarter of 2023.
For more information please contact:
Anders Storm, CEO
Tel: +46 70 262 6390
E-mail: anders.storm@sivers-semiconductors.com
Sivers Semiconductors AB is a leading and internationally recognized technology company that supplies ICs and integrated modules through its two business areas Wireless and Photonics. Wireless develops mmWave products for advanced 5G systems for data and telecommunications networks and satellite communication. The portfolio includes RF transceivers, beamforming front end ICs, integrated mmwave antennas, repeaters, and software algorithms for optimum mmWave RF performance. Photonics develops and manufactures semiconductor based optical products for optical fiber networks, sensors and optical fiber communications (Li-Fi). The company is listed on Nasdaq Stockholm under SIVE. The head office is located in Kista, Sweden. For more information: http://www.sivers-semiconductors.com