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SimiGon signs license contract with leading Latin American training and simulation group

SimiGon (LSE: SIM), a global leader in providing simulation training solutions, is pleased to announce that is has signed a new license agreement with Corporacion de Alta Tecnologia para la Defensa (Codaltec), a leading Colombian high technology corporation. SimiGon consider this a major endorsement for its technology and delivery capabilities.

Codaltec was formed in August 2012 by the Colombian government to meet the defense sector's needs, including training and simulation. SimiGon provided the new corporation with its SIMbox training and simulation technology platform. As a result of the successful delivery and performance of SimiGon's systems, Codaltec has agreed to purchase additional SimiGon software licenses to support its numerous training programs. The value of this contract does not change the Company's expectations for the year ended 31 December 2014.

Under the terms of the original contract, SimiGon delivered a wide range of SIMbox development training courses and on-the-job training, forming the backbone of Codaltec's simulation development programmes. Based on this support, SimiGon partners develop their own SIMbox-based training and simulation content to support training of its customers.

Codaltec is partially owned by the Colombian Government and provides, amongst other high-tech projects, advanced training and simulation systems for their armed forces. Based on the numerous projects that it has already developed or is in the process of developing for its customers, Codaltec is already one of the largest and most successful groups utilizing SimiGon's SIMbox training and simulation software platform.

Julio Gonzalez, Codaltec's Chief Executive Officer, stated: "We are committed to delivering the best advanced training systems for our customers. SimiGon's technology provides the strong and flexible solution our development team needs to fulfill a variety of different training requirements. We look forward to extending our relationship with SimiGon and building a long term relationship with them."

SimiGon President & CEO, Ami Vizer, said, "We are very proud of Codaltec's successful delivery of multiple SIMbox-based training systems for its diverse end users. This partnership demonstrates how companies can adopt SimiGon's technology to enhance their offering by rapidly delivering a higher quality training and simulation solution for their customers. It is a major endorsement for SimiGon and a milestone in our relationship with Codaltec that we are now expanding the scope of our initial agreement with them."

View complete announcement on London Stock Exchange Website