Etherstack Plc (ESK.AX) US$2.3m North American Equipment Sale

Etherstack plc (ASX:ESK) is pleased to advise the group's North American subsidiary, Etherstack Inc., has signed a follow on US$2.3m deal to supply further digital radio communications technology to a North American channel partner, Daniels Electronics Ltd, a subsidiary of Codan Limited (ASX:CDA).

This renewal follows on from the US$1.35m deal announced in February 2020. The hardware components of the equipment to be supplied are manufactured in Australia by Etherstack.

The supply contract has an initial 6-year term and has provisions that are expected to generate Etherstack additional licensing and support revenues beyond the baseline US$2.3m. The majority of the baseline revenue will be recognised within the next 18 months.

Etherstack's CEO, David Deacon, said "We are very pleased to continue our longstanding relationship with one of Codan's North American business units. This is a good example of co-operation between Australian technology companies in the global market, and we continue to explore other areas of collaboration between the businesses".

David Carter
Chief Financial Officer
T: +61 2 8399 7500
www.etherstack.com

Investor Relations
Melanie Singh
T: +61 439 748 819
melanie@nwrcommunications.com.au

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