Ethernity Networks Raised £15 million in London’s AIM
3 July, 2017
Ethernity Networks Installed in over 400,000 systems globally in broadband access, mobile backhaul and Ethernet access applications
After more than 12 years since it was founded, Ethernity Networks found its way into the stock exchange market. Last week the data network processing technology company from Lod, Israel, has landed on the AIM Market of the London Stock Exchange and successfully raised £15 million (Approximately $19.4 million). The company total value is evaluated at £65 million.
Ethernity Networks provides data processing cards and software to accelerate high-end Carrier Ethernet applications. The company that was founded in 2004 was on of the firsts in the market to realize that the traditional massive parallel Network Processors does not aswer the needs of the evolving dynamic networks of today. Its core technology, which is populated on programmable logic, enables data offloading at the pace of software development, improves performance and reduces power consumption and latency.
David Levi, CEO of Ethernity Networks, said that the fundraising and AIM listing is a major moment. “We have game changing technology that major global network operators are demanding and the listing will enhance Ethernity’s profile and strengthen our balance sheet, which is essential in order for us to fulfill tier one supply chain requirements.”
The Company’s software and firmware is already installed in over 400,000 systems globally in broadband access, mobile backhaul and Ethernet access applications. The reducing cost of the Field-Programmable Gate Array (FPGA) will enable the Company to target larger markets previously only served by Application-Specific Integrated Circuits / Application-Specific Standard Products (ASIC / ASSPs) and fuel increased demand in the Company’s markets.
Ethernity’s major markets are the Carrier Ethernet and NFV/SDN markets. The SDN market is estimated to reach US$70.41 billion by 2024, according to Grand View Research, Inc. Software Defined Networking (SDN) has witnessed a surge in its popularity in the recent years due to the benefits it offers over the existing legacy infrastructure.
The SDN solutions provide centralised control and operational capabilities, which help network administrators and engineers respond quickly and efficiently. The global NFV market (including hardware and software) will be worth US$15 billion by 2020, with software comprising 80 per cent of that $15 billion, according to IHS Markit.