REG - Sondrel (Holdings) - Successful Milestone Completion

Sondrel (Holdings)Announcement

29/04/2024 07:00

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RNS Number : 2907M  Sondrel (Holdings) plc  29 April 2024

29 April 2024

Sondrel (Holdings) plc

("Sondrel", the "Company" and together with its subsidiaries the "Group")

 

Successful Milestone Completion

 

Tapeout of turnkey ASIC engagement with a Tier 1 OEM Automotive customer

Sondrel (AIM: SND), a leading provider of ultra-complex chips for leading
global technology brands, is pleased to announce that it has successfully
completed the tapeout, the next key milestone, including the associated
invoicing, in respect of the material turnkey ASIC engagement for a Tier 1 OEM
Automotive customer (the "Project").

Tapeout signals the completion of the design phase of an ASIC and the handover
of all data to the silicon foundry which is contracted to manufacture the
ASIC. This tapeout data is used to initiate the generation of photomasks by
the foundry, which are then used to produce prototype silicon wafers. These
wafers are then packaged and tested before delivery to the customer for
prototype assessment.

With the design phase of the Project now achieved and its tapeout completed,
the Company will progress with the new product introduction and prototyping
phases of the turnkey supply services being provided to the customer.

 

David Mitchard, Interim Chief Executive Officer of Sondrel, commented:

 

"The successful completion of this milestone demonstrates our commitment to
our customer, and the close collaboration between the teams.

"Since the beginning of the year we have made good progress on this important
ASIC project with the automotive Tier 1 supplier. I would like to thank
Sondrel's employees, suppliers and customers for their continued support over
recent months.

''Our focus on end markets that are aligned with strong and enduring global
technology megatrends means that we have a good pipeline of design
opportunities for 2024."

For further information:

 

 Sondrel (Holdings) plc                                        Via Buchanan
 David Mitchard, Interim CEO                                   Tel: +44 (0) 20 7466 5000
 Nick Stone, Interim CFO

 Cavendish Capital Markets Limited                             Tel: +44 (0) 20 7220 0500
 Ben Jeynes / Katy Birkin / George Lawson - Corporate Finance
 Michael Johnson / Charlie Combe - Sales and ECM

 Buchanan Communications                                       Tel: +44 (0) 20 7466 5000
 Chris Lane                                                    sondrel@buchanan.uk.com (mailto:sondrel@buchanan.uk.com)

 Stephanie Whitmore
 Jack Devoy
 Abby Gilchrist

 

About Sondrel

Sondrel is a UK-based fabless semiconductor company specialising in high end,
complex digital Application Specific Integrated Circuits (ASICs) and System on
Chips (SOCs). It provides a full turnkey service in the design, prototyping,
testing, packaging and production of ASICs and SoCs.

 

The Company is one of only a few companies capable of designing and supplying
the higher-spec chips built on the most advanced semiconductor technologies,
selling into a range of hyper growth end markets such as high-performance
computing, automotive, artificial intelligence, VR/AR, video analytics, image
processing, mobile networking and data centres.  Sondrel designs have enabled
products by leading technology brands including Apple (iPhone), Sony
(PlayStation), Meta's (Oculus), Samsung, Google and Sony smartphones, JVC
(prosumer camcorders), Tesla and Mercedes-Benz cars.

 

Sondrel is well-established, with a 20-year track record of successful
delivery, supported by long standing ecosystem partnerships including Arm,
TSMC and Samsung. Headquartered in the UK, Sondrel has a global presence with
offices in UK, USA, China, India and Morocco.

 

For more information please visit: ir.sondrel.com
(http://www.ir.sondrel.com/) .

 

 

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