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SimiGon awarded additional contract from a leading unmanned aircraft systems provider - Simigon

News Details

SimiGon awarded additional contract from a leading unmanned aircraft systems provider

SimiGon (LSE: SIM), a global leader in providing simulation training solutions, is pleased to announce that it has been awarded an additional contract from a leading provider in the small tactical Unmanned Aircraft Systems ("UAS") market. SimiGon supplies the underlying training system technology for the UAS program.

Due to the successful historical performance of SimiGon's systems, the Company will deliver additional licenses with annual maintenance and support for a period of 3 years under the new contract. The value of the contract is $0.8 million and the revenue contribution from this contract was already factored into management's expectations for the year ended 31 December 2015. It will also contribute to improved revenue visibility for FY 2016 and beyond.

This latest contract award demonstrates SimiGon's ability to provide successful training solutions and highlights the Company's growing footprint in the UAS market. The Company continues to improve its position as a technology and services provider for large simulation training programs. Through SimiGon's ecosystem of worldwide partners, the Company's technology is used to support initial operator training in classrooms as well as advanced operational training.

SimiGon President & CEO, Ami Vizer, said, "We are proud to continue our partnership with this strategic client. The continued selection of SIMbox shows the confidence our partner has in our advanced training solutions. This contract demonstrates to the market SimiGon's capability to support the UAS training sector, a rapidly growing segment worldwide."

View complete announcement on London Stock Exchange Website