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Company SimiGon Limited
TIDM SIM
Headline

Third contract agreed with key European customer

Released 07:00 12-Dec-2012
Number 3081T07

RNS Number : 3081T
SimiGon Limited
12 December 2012
 



12 December 2012

 

SimiGon Ltd

 

("SimiGon" or the "Company")

 

Strategic European customer awards SimiGon its third contract

 

Key European customer adopted SimiGon's SIMbox development tools for its Academic Training Center

 

SimiGon Limited (LSE: SIM), a global leader in providing simulation training solutions, is pleased to announce that it has further expanded its long-term relationship with a major existing European customer.

 

The Company has been awarded a contract, a third since the companies began working together in 2009, for licenses of the Company's SIMbox technology at the development labs of this customer's Academic Training Center ('ATC'). This is an expansion upon an original contract announced on 30 September 2009. Separately, the Company announced in July 2012 that SimiGon's training software had been adopted for a second customer by this customer.

 

Under the contract announced today, valued at US$0.34 million with a further contract for maintenance and support services expected to follow, SimiGon has increased the penetration of its SIMbox technology across the customer's organisation. The SBT systems are expected to be installed at the customer's ATC sites during 2013. This contract does not change the Company's expectations for the years ended 31 December 2012 or 2013.  

 

SimiGon President and CEO, Ami Vizer, said: "SimiGon's relationship with this key partner continues to develop and grow stronger. This latest contract is a clear endorsement of both our technology, and our long term strategy to position SimiGon at the heart of major global organisations."

 

The Simulation Based Training ('SBT') solution, based on SimiGon's SIMbox simulation and training technology platform, will play an integral role in the customer's new training centers. SIMbox, as the baseline training system, will enable flight cadets to successfully surmount the numerous challenges of learning to operate and fly the aircraft. This is in line with the trend for advanced, highly interactive, cost-effective training solutions that reduce the cost of real flights and flight instructor hours.

 

 

Enquiries:

 

SimiGon Ltd

Ami Vizer, Chief Executive Officer

Efi Manea, Chief Financial Officer

www.simigon.com

 

 

Tel: +1 (407) 951 5548

finnCap (NOMAD & Broker)

Stuart Andrews / Henrik Persson

 

 

Tel: +44 (0) 20 7220 0500

Luther Pendragon  (Media & Investor Relations)

Harry Chathli / Alexis Gore

 

 

Tel: + 44 (0) 207 618 9100

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Third contract agreed with key European customer - RNS