On the 5th of August 2020 Sivers Semiconductors AB announced that the company had signed a combined development and supply agreement with a Global high-tech company listed on New York Stock Exchange (NYSE). Sivers has today received notice from the customer that they have decided to terminate the ongoing development contract and put the project indefinitely on hold due to overall delays and missing the current customer’s customer window.
The value of the contract was at the time estimated to approximately SEK 480 million during the first three years of commercial deployment and was based on non-committed forecasted volumes from the customer.
“Right now, we live in very challenging times with ongoing pandemic as well as ongoing invasion in Europe, which has had effect on the overall business and this project was an important project for Sivers. With that said even if this project was important, it was only one of 44 design-wins within 5G received by Sivers Wireless”, says Anders Storm, Group CEO of Sivers Semiconductors.
This disclosure contains information that Sivers Semiconductors is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the contact person set out, on 24-02-2022 16:00 CET.