Intrinsyc Software International Inc. (TSX:ICS) announced today it has signed a material agreement with an unnamed leading semiconductor company.
According to the company, the agreement is worth 10% or more of its projected revenue over the next year, with expected revenue of more than $2 million in the 2012 fiscal year.
The name of the semiconductor company, and all details of the project, will remain confidential at the request of the customer, Intrinsyc said in a statement.
Intrinsyc is a product development company headquartered in Vancouver. It works with customers to develop products such as smartphones, tablets, e-readers and portable gaming devices.
Intrinsyc was not available for comment. As of press time, Intrinsyc’s share price was up 12% to $0.09.
Emma Crawford