A private Montreal chipmaker has been awarded a contract to develop a new chip for wireless communications by SK Telecom of South Korea.
Wavesat announced Monday the agreement with SK Telecom to co-operate in the development of WiBro/OFDMA technology for next generation mobile devices, including cellphones and Blackberries.
Michel Guay, Wavesat president and CEO, said the deal should add revenues to his company of $10 million to $20 million over the next two to three years.
Wavesat is expected to achieve revenues of $10 million this year, Guay said.
Currently with 60 employees, he said Wavesat will add 10 to 15 people as a result of the SK Telecom deal.
JooSik Lee, vice-president of SK Telecom, said the partnership “is a continuation of SK Telecom’s commitment to provide the most innovative world-class mobile communications technology and we look forward to a long and successful relationship with Wavesat.”