News Details

STRATEGIC EUROPEAN CUSTOMER AWARDS SIMIGON ADDITIONAL CONTRACT

SimiGon Ltd

("SimiGon" or "the Company")

Strategic European customer awards SimiGon additional contract

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 "Customer").

The contract award is for SimiGon to provide its SIMbox Commercial Off the Shelf training and simulation development platform and delivery environment for its new research & development lab at the Customer’s facility (the "Contract"). The Customer will use SIMbox technology as the technology baseline for its Academic Training Centers ("ATC").

Under the Contract announced today, valued at US$0.92 million, SimiGon has successfully increased the use of SIMbox in the additional programs across the Customer’s organization. The expected revenue from this Contract was already factored into management's expectations for the years ended 31 December 2018 and 2019.

SIMbox-based training solutions will be used to design, develop and implement advanced training for flight crew and maintenance staff, for basic, advanced and recurrent training. The SIMbox Training Management System will allow the ATC to deploy the content and monitor user performance. The embedded virtual instructor capability will ensure dynamic, highly interactive, personalized, cost-effective training solutions that reduce the cost of real flights, flight instructor hours and help prevent aviation mishaps.

SimiGon President and CEO, Ami Vizer, said: "We continue to develop our relationship with this key partner. This latest contract is clear proof of the market’s need for our advanced technology and its continuous adoption by major training organizations worldwide. We appreciate the client’s confidence in our COTS products and look forward to continuing our close business relationship".

View complete announcement on London Stock Exchange Website