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(Sharecast News) - RF and microwave semiconductors developer CML Microsystems has inked a 12-year design and supply agreement with a leading manufacturer of industrial global navigation satellite system equipment.
CML Microsystems said on Thursday that, under the terms of the contract, it will deliver advanced design services and product supply valued at over $30.0m across the duration of the partnership.
The AIM-listed group said the "milestone agreement" reinforces its strategic commitment to the global satellite technology market and strengthens its position as a key enabler of high-precision GNSS applications.
CML also stated that the contract reflected customer confidence in selecting it as a trusted partner in delivering "innovative, high-performance semiconductor solutions".
Chief operating officer Mark McCabe said: "This long-term agreement is a strong endorsement of CML Micro's capability to deliver cutting-edge, application-specific semiconductors tailored to the demanding requirements of the GNSS sector. The combination of advanced RF design expertise, robust product lifecycle support, and supply chain reliability was central to securing this multi-year commitment."
As of 0850 BST, CML shares were up 9.82% at 307.50p.
Reporting by Iain Gilbert at Sharecast.com
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