A day after the Israeli courts suspended legal proceedings against
Noga Electrotechnika (TASE:
), the company's subsidiary
Noga Technologies (TASE:
) reported a $10 million contract.
The contract is with Noga's affiliated company, M@in.net (pronounced Main.net), in which Noga Technologies holds a 26.9% interest.
M@in.net, which was established in 1999, specializes in broadband transmission and power line communications. It makes modems that connect between power sockets in the home and the USB or Ethernet connection in computers. The systems enable communications rates of up to 2.5 megabytes per second.
Households can connect the modems to additional power sockets, creating a home network.
M@in.net also has a contract to supply its Internet-over-powerline modems to the Power PLUS Communications, its joint venture with the German power company MW, to be delivered over the coming 18 months.
Power PLUS Communications markets M@in.net's modems in Germany and Austria, mainly to local power and communications companies. To date it has installed the systems in more than 20 projects.
The systems enable the power companies to offer fast Internet service over their electricity network.
The systems are also undergoing precommercial testing at dozens of sites in the United States, Europe and Asia. The company expects to have 100,000 users by year-end 2003.