Sivers Semiconductors AB (publ) (2DG.F) announced that the company has been awarded a new development program by the European Space Agency worth approximately $900,000.
The contract, which will span over 18 months, will support the development of next-generation satellite communication beamforming integrated circuits.
The contract is expected to help the company with continued growth, supporting evolving global market needs while driving the development of next-generation SATCOM technology.
"As the only EU-based commercial provider of mmWave BFICs for SATCOM and 5G, this award reinforces our position as a key player in the European SATCOM ecosystem," said Vickram Vathulya, CEO of the company.
Currently, Sivers's stock is trading at $0.32, down 2.70 percent on the Frankfurt Exchange.
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