Investing.com -- Shares of UK-based chip maker EnSilica (LON:ENSI) rose around 9% to 123 pence on Monday after the company announced a seven-year manufacturing and supply contract.
The agreement involves production of an Arm-based sensing chip for a German automotive components manufacturer, whose name was not disclosed.
EnSilica said the contract is expected to generate approximately $75 million in revenue over the seven-year period.
The company anticipates around $4 million of revenue from the deal in the financial year ending May 31, 2027.
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