SimiGon Limited Contract Win
February 14 2019 - 1:01AM
RNS Non-Regulatory
TIDMSIM
SimiGon Limited
14 February 2019
SimiGon Ltd
("SimiGon" or "the Company")
New $0.85 million contracts with key European customer kicks off
a positive start to 2019 for SimiGon
SimiGon Limited (LSE: SIM), a global leader in providing
simulation training solutions, is pleased to announce that it has
expanded its long term relationship with an existing European
customer (the "Customer") and has signed multiple new contracts
totalling $0.85 million in aggregate to provide licences,
maintenance and support services for the Customer's simulation
training centres (the "Contracts").
The Contracts further increase the use of SimiGon's SIMbox
product across the Customer's organisation. The Company's
SIMbox-based training solutions will be used as the baseline for
Simulation Based Trainers ("SBT") in the Customer's new Academic
Training Centres being built for its new end users. SIMbox-based
SBTs enable users to save time, money and enhance aircrew training
with high fidelity 3D simulation, Virtual Instructor guided
lessons, measuring individual and group training objectives,
reporting and analytical tools and robust content development
capabilities.
The Contracts comprise of three year delivery commitments,
commencing immediately. The expected revenue from these Contracts
has already been factored into management's expectations for the
year ended 31 December 2019. In addition, the Contracts are
expected to contribute to improved revenue visibility for FY 2020
and 2021.
SimiGon President and CEO, Ami Vizer, said: "These strategic
Contracts are highly notable. First, it provides a positive start
to 2019. Secondly, this further cements our ongoing strong
relationship with this strategic European client.
These three year Contracts are a major win, reflecting the
Customer's belief in SimiGon technology as the training systems
infrastructure. This also demonstrates to the industry SimiGon's
ability to provide cost effective, advanced training solutions
which addresses market need. We look forward to continuing our
close business relationship with this Customer and building on this
positive momentum throughout 2019."
Enquiries:
SimiGon Ltd
Ami Vizer, Chief Executive Officer +1 (407) 951 5548
Efi Manea, Chief Financial Officer
finnCap (NOMAD & Broker) +44 (0) 20 7220 0500
Scott Mathieson / Matthew Radley (corporate
finance)
About SimiGon
SimiGon (AIM: SIM) is a leading developer and supplier of
distributed simulation solutions for defence and civilian
applications. SimiGon is the creator of SIMbox, a leading PC-based
platform for creating, managing and deploying simulation-based
content across multiple domains. Through its off the-shelf training
solutions for demanding high-skill occupations, SimiGon provides
diverse organizations with faster and more cost-effective training.
SimiGon's growing client base includes blue-chip training and
simulation systems providers as well as air forces and commercial
airlines worldwide. Founded in 1998, SimiGon maintains offices in
Israel and the United States.
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END
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