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RNS Number : 6382I
SimiGon Limited
12 August 2019
 

SimiGon Ltd

("SimiGon" or the "Company")

 

SimiGon closes additional United States Air Force Virtual Reality systems contract

 

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

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

As with the contract announced on 25 July 2019, the Contract is part of a USAF-wide, rapid innovation initiative to update and improve its training capabilities. The contract is yet another indication that SimiGon is seen as a reliable integrator and supplier of VR and MR systems for to the market. The Contract award expands SimiGon's current supply of VR technology work to Vance Air Force Base in Enid, Oklahoma, a USAF 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.

Mr. Ami Vizer, SimiGon's Chief Executive Officer and Chairman said: "I am pleased to see the continued strengthening of the relationship between Simigon and the USAF. 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 and MR realms. We expect this contract to lead to additional VR and MR 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.

 

 

 


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Price: 7.25

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Market Cap: £3.69 m
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