Editing Ethernity Networks Ltd: Contract cancellation
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'''Announcement date: {{Date|1st September 2022}}''' | '''Announcement date: {{Date|1st September 2022}}''' | ||
Ethernity Networks (AIM: ENET.L), a leading supplier of data processing offload solutions on programmable FPGA (field programmable gate array) for accelerating telco/cloud networks, announces that it received notice on 31 August 2022 that its contract for the provision of the Company's UEP module (Universal Edge Platform), details of which were first announced on 30 July 2021, (the "Contract") has been cancelled. | Ethernity Networks (AIM: ENET.L), a leading supplier of data processing offload solutions on programmable FPGA (field programmable gate array) for accelerating telco/cloud networks, announces that it received notice on 31 August 2022 that its contract for the provision of the Company's UEP module (Universal Edge Platform), details of which were first announced on 30 July 2021, (the "Contract") has been cancelled. | ||
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'''Ethernity CEO, David Levi, said:''' "We are extremely disappointed with the customer's stance and believe that their decision has been driven by other internal factors at the customer, which is resulting in them not being able to deliver to their anticipated plans. We consider that these factors are unrelated to the Ethernity developments. We are however highly encouraged by the progress and developments of our UEP2025 and will continue to focus our resources on this development." | '''Ethernity CEO, David Levi, said:''' "We are extremely disappointed with the customer's stance and believe that their decision has been driven by other internal factors at the customer, which is resulting in them not being able to deliver to their anticipated plans. We consider that these factors are unrelated to the Ethernity developments. We are however highly encouraged by the progress and developments of our UEP2025 and will continue to focus our resources on this development." | ||
[[Category:Update]] | [[Category:Update]] | ||
[[Category:Equities]] | [[Category:Equities]] | ||
[[Category:Ethernity Networks Ltd]] | [[Category:Ethernity Networks Ltd]] | ||
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