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RNS Number : 6338G
SimiGon Limited
25 July 2019
 

SimiGon Ltd

("SimiGon" or the "Company")

SimiGon wins USAF Virtual Reality systems supplier contract

 

SimiGon, Ltd. (LSE: SIM), a global leader in modelling, simulation and training solutions, is pleased to announce that it was awarded a further strategic contract with the United States Air Force ("USAF") to provide Virtual Reality (VR) systems for Columbus Air Force Base (the "Contract").

This Contract further strengthens SimiGon's position in providing Virtual and Mixed Reality technologies for training. 

Awarded as part of a USAF-wide, rapid innovation effort, the Contract clearly demonstrates to the market that SimiGon is a reliable integrator and supplier of VR and MR systems for its clients.

The Contract is also strategically significant for expanding SimiGon's work to Columbus, Mississippi, an Undergraduate Pilot Training (UPT) air base.

The expected revenue from the Contract has already been factored into management's expectations for the year ended 31 December 2019.

SimiGon President & CEO, Ami Vizer, said: "This VR systems supply contract is a natural fit for SimiGon, as we've been active in VR for almost two decades. SimiGon is well positioned to support USAF's innovation efforts in the VR realm. We expect this contract to lead to additional VR supplier opportunities in the USAF and in the Government and Commercial training space."

 

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 Matheison / 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.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Price: 7.25

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Market Cap: £3.69 m
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