EnSilica secures new ASIC design and supply contract

EnSilica said its European client was "a leading supplier" to most major automotive and industrial original equipment manufacturers, with the total value of the contract, including non-recurring engineering and supply, projected to exceed $31.0m over seven years, based on quoted NRE fees and the client's forecast production volumes.

The AIM-listed group stated it had been selected due to previous relevant mixed-signal design experience and its "proven track record" of bringing to volume production chips meeting stringent automotive and industrial standards.

Chief executive Ian Lankshear said: " "This mixed signal ASIC is another excellent win for EnSilica, further underpinning our position as one of the leading custom ASIC suppliers for industrial and automotive applications.

"Our new European customer has excellent standing in the industry, and we are very pleased to become their ASIC partner of choice. This design win adds to the strong portfolio of ASICs we have in the design phase, further supporting the visibility of our recurring revenues."

As of 0930 BST, EnSilica shares were up 4.26% at 49.00p.

Reporting by Iain Gilbert at Sharecast.com