- Initial Orders Total ~$5M
KFAR SAVA, Israel, May 15, 2023
/PRNewswire/ -- Silicom Ltd. (NASDAQ: SILC), a leading provider of
networking and data infrastructure solutions, today announced that
it has been selected to develop an innovative Edge Networking
product by a leading US-based provider of enterprise
telecommunications services. The product's unique feature set will
make it possible for the customer to offer advanced new features,
while simultaneously reducing its internal overhead.
The customer has already placed initial orders totaling
approximately $5 million. Delivery of
products will commence following successful completion of the
development and testing processes, which are expected to be carried
out by the end of 2023. The customer has indicated that orders will
scale up over the next several years as the product enters mass
deployment.
"We are gratified that this service provider has turned to us to
develop and build this next-generation Edge Networking product, and
extremely excited about the potential of the new use case it brings
to market," commented Liron
Eizenman, Silicom's CEO. "Besides substantial long-term
sales to this particular customer, we believe it will prove useful
for a wide range of customers, adding to the already-strong
momentum that is building around our Edge product lines."
Mr. Eizenman continued, "This confirms, once again, our
strategic decision to focus on the Edge market as a primary growth
driver. It also demonstrates the value of the 'full service' model
we have built for the Edge Networking market, including innovative,
best-in-class products based on deep networking, 5G and LTE
expertise, rapid development and customization capabilities, a
partnership approach and uncompromising total support."
About Silicom
Silicom Ltd. is an industry-leading provider of high-performance
networking and data infrastructure solutions. Designed primarily to
improve performance and efficiency in Cloud and Data Center
environments, Silicom's solutions increase throughput, decrease
latency and boost the performance of servers and networking
appliances, the infrastructure backbone that enables advanced Cloud
architectures and leading technologies like NFV, SD-WAN and Cyber
Security. Our innovative solutions for high-density networking,
high-speed fabric switching, offloading and acceleration, which
utilize a range of cutting-edge silicon technologies as well as
FPGA-based solutions, are ideal for scaling-up and scaling-out
cloud infrastructures.
Silicom products are used by major Cloud players, service
providers, telcos and OEMs as components of their infrastructure
offerings, including both add-on adapters in the Data Center and
stand-alone virtualized/universal CPE devices at the edge.
Silicom's long-term, trusted relationships with more than 200
customers throughout the world, its more than 400 active Design
Wins and more than 300 product SKUs have made Silicom a "go-to"
connectivity/performance partner of choice for technology leaders
around the globe.
For more information, please visit: www.silicom.co.il.
Statements in this press release which are not historical data
are forward-looking statements which involve known and unknown
risks, uncertainties, or other factors not under the company's
control, which may cause actual results, performance, or
achievements of the company to be materially different from the
results, performance, or other expectations implied by these
forward-looking statements. These factors include, but are not
limited to, Silicom's increasing dependence for substantial revenue
growth on a limited number of customers in the evolving
cloud-based, SD-WAN, NFV and Edge markets, the speed and extent to
which solutions are adopted by these markets, likelihood that
Silicom will rely increasingly on customers which provide solutions
in these evolving markets, resulting in an increasing dependence on
a smaller number of larger customers, difficulty in commercializing
and marketing of Silicom's products and services, maintaining and
protecting brand recognition, protection of intellectual property,
competition, disruptions to our manufacturing, sales &
marketing, development and customer support activities, the impact
of the war in Ukraine, rising
inflation, rising interest rates, volatile exchange rates and
commodities' prices, as well as any continuing or new effects
resulting from the COVID-19 pandemic, and the global economy
uncertainty which may impact customer demand through their
exercising greater caution and selectivity with their short-term IT
investment plans, as well as those other factors discussed in our
Annual Report on Form 20-F and other documents filed by the Company
and that may be subsequently filed by the company from time to time
with the SEC. These forward-looking statements can generally be
identified as such because the context of the statement will
include words, such as "expects," "should," "believes,"
"anticipates" or words of similar import. Similarly, statements
that describe future plans, objectives or goals are also
forward-looking statements. In light of significant risks and
uncertainties inherent in forward-looking statements, the inclusion
of such statements should not be regarded as a representation by
the company that it will achieve such forward-looking statements.
The company disclaims any duty to update such statements, whether
as a result of new information, future events, or otherwise.
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Company contact:
Eran Gilad, CFO
Silicom Ltd.
+972-9-764-4555
erang@silicom.co.il
Investor Relations contact:
Ehud Helft
EK Global Investor Relations
+1 (212) 378-8040
silicom@ekgir.com
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SOURCE Silicom Ltd.