30th Sep 2009 07:00
SimiGon Limited ("SimiGon" or "the Company")
SimiGon signs an agreement with European customer; initial order worth over $2 million
September 23, 2009 - SimiGon Limited (LSE: SIM), a global leader in the provision of simulation solutions, announces that it signed an agreement with a European customer to be the Simulation Based Training (SBT) system provider for the development on supply of a new Academic Training Center. The initial order is valued over $2 million and is to be delivered during the next 18 months.
The SBT solution, based on SimiGon's SIMbox simulation and training technology platform, will play an integral role as part of the new advanced, Integrated Training Environment. SIMbox, as the baseline training system, will enable flight cadets to successfully surmount the numerous challenges of operating advanced aircraft. This is in line with the trend for advanced training solutions being included in program requirements for advanced aircraft.
This contract, the first of several training center contracts the Company expects to engage in with this customer, caps an extensive evaluation process the customer made of several types of solutions. SimiGon's advanced, robust and mature SBT system, a PC-based COTS product used daily by air force squadrons across the globe, was selected because of the extensive value and flexibility it provides organizations. SIMbox is the only SBT solution on the market to offer a fully integrated system comprised of high fidelity 3D simulation within a SCORM 2004 Learning Management System, After Action Review, Virtual Instructor and Live Instructor capabilities, trainee monitoring and reporting tools, a scheduling system, and easy-to-use content development tools. The contract will have a positive impact on 2009 and 2010 revenue visibility as well as further position SimiGon for similar opportunities globally and as a leading provider of advanced training solutions for air forces and other customers.
SimiGon President and CEO, Ami Vizer said, "We are excited to be chosen as the Simulation Based Training partner for this new academic training center. The well defined criteria of the customer and the selection of SIMbox support our understanding of the market and our vision of providing advanced, cost-effective training systems for a demanding and educated market. SimiGon is fully committed to the success and growth of this important strategic partnership. We see this contract as a first step in a long term, mutually beneficial relationship for both companies."
Enquiries
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SimiGon Ltd |
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Ami Vizer, Chief Executive Officer Haim Yatim, Chief Financial Officer |
+972 9 956 1777 |
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Evolution Securities Ltd |
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Jeremy Ellis / Chris Clarke |
+44 (0)20 7071 4300 |
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