CML Microsystems jumps on 12-year contract worth over $30 million
CML Microsystems PLC shares climbed on Thursday as it said it has won a 12-year design and supply contract worth over $30 million.
Shares in CML Microsystems were up 9.9% at 307.65 pence in London on Thursday afternoon.
The Essex, England-based developer of mixed-signal, radio frequency and microwave semiconductors said it has secured the agreement with a ‘leading manufacturer of industrial global navigation satellite system equipment’.
Under the agreement, CML will deliver advanced design services and product supply.
According to CML, the deal reinforces its commitment to the global satellite market and strengthens its position as an enabler of GNSS applications.
‘This long-term agreement is a strong endorsement of CML Micro’s capability to deliver cutting-edge, application-specific semiconductors tailored to the demanding requirements of the GNSS sector,’ said Chief Operating Officer Mark McCabe.
‘The combination of advanced RF design expertise, robust product lifecycle support, and supply chain reliability was central to securing this multi-year commitment. It reinforces our strategic focus on enabling next-generation positioning technologies through sustained innovation and commercial execution.’
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