Etherstack signs US$1.2M deal with telecom giant AT&T, shares jump 12%

Etherstack Plc (ASX:ESK) has seen its share price rise more than 12% after the wireless technology company signed a US$1.2 million deal with the world’s largest telecom carrier, AT&T, to supply wireless network equipment and associated services.

The two have been collaborating since 2021 on AT&T’s FirstNet project; described as the largest mission-critical push-to-talk project in the world.

CEO David Deacon said the deal reflected Etherstack’s reputation and growth.

“This direct award with AT&T for one of our innovative products in a rapidly evolving public communications product area is testament to Etherstack’s capability in building the best products for the world’s largest telco operators and switch vendors,” he said.

“We look forward to updating our shareholders in the near future with further good news.”

At the same time, Etherstack confirmed a repeat contract for the provision of Etherstack digital radio technology for a mine site in Western Australia.

This contract – valued at A$519,000 (or US$327,000) – was for Radlink Communications, a Western Australia-based systems integrator and a long-term Etherstack customer.

Additionally, it was the eighth Etherstack contract to provide services for a mine site run by the same iron ore producer – the world’s largest.

Etherstack last traded at 31cps after its 12.73% value jump.

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