Etherstack Signs new Australian Defence Contract
Sydney, Feb 11, 2021 AEST (ABN Newswire) - Etherstack Plc (
ASX:ESK) is pleased to report that its subsidiary Etherstack Pty Ltd has entered into a subcontract with EOS Defence Systems Pty Ltd, a member of the Electro Optic Systems Holdings Limited (ASX:EOS) group, to supply services in relation to a project with the Australian Department of Defence.
The value of services to be provided under the contract is approximately A$500,000 which the Company expects will be fully recognised in FY2021.
This award is a second defence contract win by Etherstack, following on from the recently announced A$4.1m deal directly with the Australian Department of Defence.
Management has previously highlighted Etherstack's positive exposure to defence and government spending in investor presentations and trading updates. Etherstack CEO, David Deacon said, "We are pleased that the Australian Department of Defence are committing to Australian Industry Content via meaningful awards. Etherstack has had significant international defence wins over the past two decades and it is great to be winning and delivering projects in our home market".
About Etherstack Plc
Etherstack (ASX:ESK) is the world's leading licensor of wireless technologies for the digital LMR industry and the Company develops wireless products for the main digital radio communications standards known as APCO P25, TETRA and DMR. Over the past 25 years, over twenty wireless equipment manufacturers have licensed LMR technologies from Etherstack for use in their products.
MCPTT over LTE is an emerging cellular standard that provides public safety grade PTT (Push-To-Talk) solutions within 4G and 5G cellular networks. Demand for MCPTT services and equipment by telecommunications carriers and end user agencies has been steadily growing in the past few years and is expected to rise rapidly over the next 36-48 months.
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