Ethernity Networks Ltd (LON:ENET)

Ethernity Networks Ltd (LON:ENET)


Share Price
39.00 p
Change
-0.5 (-1.27 %)
Market Cap
£12.70 m
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Ethernity Networks Ltd

Ethernity Networks is a technology solutions provider that develops and delivers data processing technology used in high-end Carrier Ethernet applications across the telecom, mobile, security and data centre markets. The Company’s core technology, which is populated on programmable logic, enables data offloading at the pace of software development, improves performance and reduces power...

EPIC: ENET
Market: AIM:ENET
52-week High/Low: 70.05p / 16.20p
Sector: Technology Hardware & Equipment
Market Cap: £12.70 m
Website: www.ethernitynet.com
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Big Picture – A Deep Dive Examination of Ethernity Networks Ltd


Ethernity Networks Ltd Snapshot

Ethernity accelerates telco/cloud networks with innovative software solutions on programmable hardware

Ported onto any FPGA, Ethernity’s software offers complete data layer processing with a rich set of networking features, robust security, and a wide range of virtual functions to optimize your network. We offer our customers complete solutions that quickly adapt to their changing needs, improving time-to-market and facilitating the deployment of edge computing, NFV, 5G, and IoT.

Dramatic Changes to Telecom

The telecom industry is undergoing a major transformation. Communications and cloud service providers are rapidly virtualizing their networks with SDN/NFV and are deploying compute resources to the network edge to satisfy their end users, who expect faster, more cost-efficient services.

The Challenge and The Solution

Moving to programmable networks seems to be the only valid option for telco/cloud providers. However, pure software solutions are problematic in terms of performance (especially latency) and economics of scale when there is huge growth in users and data consumption. CPUs are quickly overloaded by networking functions, and issues arise with rising costs and power consumption.

The answer is software-defined networking on programmable hardware within COTS servers. Hardware-based acceleration, especially through FPGAs, reduces CPU load while maintaining the exact same programmability and flexibility of pure software solutions. This improves network efficiency, security, and affordability.

Our Vision

The usage of FPGAs is growing exponentially, especially at the network edge, where they are optimizing costs, enabling full programmability, and meeting customer expectations.  Today, though, there is a need for a company that can combine expertise in networking solutions with expertise in FPGA-ready software.

Ethernity, with its many years of experience in this field, is therefore perfectly positioned to become the industry leader in delivering software solutions for networking and security over FPGA.

Our Unique Technology

Ethernity’s solutions are based on its unique patented technology that enables maximum networking features in minimal FPGA space. We offer complete networking and security offload for telecom and cloud service providers onto flexible, programmable FPGA-based products, and we provide the software to accelerate your network.

Ethernity offers three primary categories of products:

  • SoCs: we develop software for any FPGA
  • SmartNICs: we develop software for FPGA-based network interface cards, whether our own ACE-NICs or any other FPGA SmartNIC our customers prefer to use
  • Network Appliances: we combine our software with COTS hardware for complete turnkey solutions to today’s toughest networking challenges

Main Facts

  • Headquarters in Israel, offices in North America and Asia
  • 15 years of experience
  • Over 100M end-users connected with our technology
  • Publicly traded on the London Stock Exchange (AIM: ENET.L)

David Levi – CEO

Over 25 years in the telecom industry, with vast technical and business experience in different networking technologies and protocols, Ethernet and PON. Prior to Ethernity, David was the founder of Broadlight, a semiconductor company that developed BPON and GPON components and was acquired by Broadcom (BRCM) for $230M. Right before his employment at Broadlight in 2000, David invented GPON protocol with two US patents registered in his name. Prior to this, David worked as Director of Product Marketing at ECI Telecom in Broadband Access division. Before that he was Senior Product Line Manager at RAD, responsible for a $50M product line sales. He was also a product manager at Tadiran Communication, a sales manager at Dynamode Ltd, and served as a systems engineer and project manager in the IDF


Shavit Baruch – VP R&D

Over 25 years in the telecom and datacom industry, with vast technical experience in different networking technologies and protocols, both at components and system level. Prior to Ethernity Networks Shavit served as Chief Architect at Native Networks, a start-up company developing products for Metro Ethernet market. Prior to this, in 2001, Shavit has established Crescendo Networks, a start-up company enhancing data center applications performance. Prior to the venture at Crescendo, Shavit served as R&D Director at ECI Telecom, where he was in charge of development of all transmission cards for one of the world’s most successful broadband systems. Earlier Shavit worked at Lannet Data Communication, acquired by AVAYA, designing, together with Galileo, Ethernet switch on silicon.

 

Eugene Zetserov, VP Product Marketing


Eugene has 20 years experience in the telecom and datacom industry, along with vast experience in semiconductors and software, product architecture definition and marketing in carrier, enterprise and data-center markets, 5G, cloud and NFV solutions, IETF and IEEE standards implementation. Prior to joining Ethernity, Eugene served as a Senior Marketing Manager and SW Architecture Team lead at Marvell (NASDAQ: MRVL) with the focus on SMB, enterprise, carrier and data centre products. Prior to Marvell, Eugene was a Product manager at Radlan with the focus on Tier 1 accounts like ALU, Cisco, Netgear, and HP.


Barak Perlman, CTO

Barak joined the company in July 2017, bringing vast knowledge in networking and virtualization. Barak is an expert in SDN/NFV with significant experience in open-source projects. He has built full solutions from concept through high-level design, software and FPGA & ASIC design. Prior to Ethernity, Barak held a variety of technical positions, VP R&D, Chief Architect, and Director of Systems Engineering. He worked at ECI and in several start-ups including Chromatis Networks, acquired by Lucent. While at ConteXtream, which was acquired by HPE, Barak led the technical definitions of the vE-CPE and SD-WAN solutions. Prior to that, he was responsible for the architecture of networking ASICs for the PON market and NPUs in PMC-Sierra. Via all the positions he has held, Barak gained experience of close cooperation with many of the major carriers/MSOs worldwide. Over the course of years, Barak contributed to the work of many standardization bodies: ITU-T, IETF, IEEE, FSAN and BBF. Recently Barak has focused on performance and SDN in ETSI NFV ISG. Barak holds several patents.

Critz Chan, VP Sales APAC
Critz Chan, VP Sales APAC
More than 30 years’ experience, over 20 of which are in executive and sales leadership roles. Before joining Ethernity Networks, Critz served as Vice President of Sales, APAC for Telestax, Inc., an open-source-based global Communications Platform as a Server (CPaaS) provider. Prior to that, Critz held the position of Vice President of Sales for Allot Communications, where he provided sales leadership and partner strategy to help the company win a several major mobile and internet service provider accounts in APAC. Over his career, he has filled several key executive positions with major corporations, including NMS Communications (now Dialogic), General DataComm, and Prime Computer. Critz holds a B.Sc. in Computer Science from the University of South Alabama.


Mark Reichenberg – CFO

Mark Reichenberg joined the Company in December of 2016 as an Advisor and Consultant and in March 2017 was appointed as the CFO. His duties include Group Financial Management as CFO, risk management, maintenance of internal controls, governance, special projects and corporate transactions. Previously Mark held the position of VP Business Development and Corporate Affairs Officer of the Magnolia Silver Jewellery Group Limited, was the CFO of GLV International Ltd, and prior to that, held the position of Group Financial Director of Total Client Services Ltd, a company listed on the Johannesburg Stock Exchange. Mark has held various senior financial director positions in retail, wholesale and logistics. Mark is a qualified Chartered Accountant from South Africa (1989) and holds a B.Acc degree from the University of the Witwatersrand (WITS) in South Africa

Rob O’Hara – VP Worldwide Sales

Rob brings over 30 years of sales leadership in the networking and semiconductor market, and over the last 17 years, he has focussed on network processors. Most recently, he served a Vice President of Sales at Mellanox Technologies with responsibility for global network processor and multicore sales. Prior to that, Rob served for 15 years as the VP of Worldwide Sales for EZchip Technologies until EZchip was acquired by Mellanox in February 2016 for $811M. Previous roles include senior sales management positions at Conexant Systems and AMD.

Critz Chan – VP Sales APAC

More than 30 years’ experience, over 20 of which are in executive and sales leadership roles. Before joining Ethernity Networks, Critz served as Vice President of Sales, APAC for Telestax, Inc., an open-source-based global Communications Platform as a Server (CPaaS) provider. Prior to that, Critz held the position of Vice President of Sales for Allot Communications, where he provided sales leadership and partner strategy to help the company win a several major mobile and internet service provider accounts in APAC. Over his career, he has filled several key executive positions with major corporations, including NMS Communications (now Dialogic), General DataComm, and Prime Computer. Critz holds a B.Sc. in Computer Science from the University of South Alabama.

 

Key Shareholders

Significant shareholders as on 27th November 2018

Shareholders Shares %Holding
David Levi 6,767,900  20.8%
Cipio Partners Fund VI S.C.S 6,572,000  20.2%
Shavit Baruch 4,500,000  13.8%
MITON GROUP PLC 3,650,143 11.2%
PIX EPSILON PTE LTD 2,476,000 7.6%
Legal & General Investment Management Limited 1,857,143  5.7%
City Financial Investment Company 1,285,714 4.0%

 

Israeli Headquarters
13A HaMelacha Street
Lod Industrial Park
Israel 7152025

[email protected]

T: +972- 8-9150392

F: +972-8-9150376

Nominated Adviser and Broker

Arden Partners plc
125 Old Broad Street
London
EC2N 1AR

Auditors

Fahn Kahne & Co. Grant Thornton Israel
32 Hamasger Street
Tel Aviv
6721118
Israel

UK Solicitors

Howard Kennedy LLP
No.1 London Bridge
London
SE1 9BG

Registrar

Link Asset Services
34 Beckenham Road
Beckenham, Kent BR3 4ZF

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