Wireless technology company, Etherstack (ASX:ESK), has signed on a North American customer.
The company, which specialises in licensing mission critical radio technologies to equipment manufacturers and networking operators around the globe, has a particular focus on the public safety, defence, utilities, transportation, and resource sectors.
In a statement on the ASX, the company indicated that the contract value is $US2.46 million (about $3.2 million) and the associated revenue is expected to be recognised in full in the current financial year ending December 31.
In addition, the contract will see an expected support revenue for 10 years following the completion of the project, which in aggregate over the life of the contract, will be a further $US2.9 million ($3.7 million).
Etherstack added, in the statement, that the contract is “strategic and significant”, and looks forward to providing additional information in connection with the contract in the near future.