EnSilica secures $2.4m contract extension

Chip maker EnSilica has secured a contract with an existing European-based customer for approximately $2.4m.

EnSilica said on Monday that its most recent award, with "a longstanding" customer, followed a period of "strong new business momentum" over the last four months, with contracts announced and others secured since 30 November coming to a total of roughly $13.5m.

The AIM-listed group added that the contract, the third secured with the mystery customer, was to develop a TSMC 12nm FinFET ASIC using multiple high-speed Ethernet network interfaces, with revenue spanning the current and next financial year.

Chief executive Ian Lankshear said: "We are delighted to have been awarded this further contract with a valued EnSilica customer; strengthening our ongoing association with them and demonstrating their continuing confidence in our design and delivery capabilities."

As of 0750 BST, EnSilica shares were up 3.96% at 74.85p.

Reporting by Iain Gilbert at Sharecast.com