Concurrent Technologies PLC Contract Expansion with Major US Contractor

RNS Number : 6101Z

Concurrent Technologies PLC

08 August 2024

 

This announcement contains inside information as stipulated under the UK version of the Market Abuse Regulation No 596/2014 which is part of English Law by virtue of the European (Withdrawal) Act 2018, as amended. On publication of this announcement via a Regulatory Information Service, this information is considered to be in the public domain.

8 August 2024

Concurrent Technologies Plc

(the "Company" or the "Group")

 

Concurrent Technologies secures contract expansion with major US Defence and Aerospace contractor

Concurrent Technologies Plc (AIM: CNC), a designer and manufacturer of leading-edge computer products, systems, and mission-critical solutions used in high-performance markets by some of the world's major OEMs, announces an expansion to its single largest ever contract.

Further to the announcement on 20 June 2024, Concurrent Technologies has secured an additional uplift of $1.52M to its $4.46M contract with a major US Defence and Aerospace prime contractor, to supply computer plug-in-cards. The total contract value is now $5.98M. The increased order reflects the customer's trust in the reliability of the Group's products and strength of the relationship.

The Company's latest product, TR MDx/6sd-RCR, announced on 29 July 2024, has been fundamental in securing this order uplift.  

Miles Adcock, CEO of Concurrent Technologies, commented: "Securing this contract uplift in a short space of time since the initial contract is a testament to the quality and performance of our products. It highlights our ability to meet and exceed customer expectations, reinforcing the strength of our product portfolio and our position as a trusted supplier in high-performance markets. The confidence shown by our customer, a major prime in the US Defence and Aerospace sector, underscores the value and reliability we bring to their critical programmes."

 

Enquiries:

Concurrent Technologies Plc Miles Adcock - CEO Kim Garrod - CFO	[phone]
Alma Strategic Communications Josh Royston Hannah Campbell Will Merison	[phone]
Cavendish Capital Markets Limited (NOMAD) Neil McDonald Peter Lynch	[phone] [phone]

 

About Concurrent Technologies Plc

Concurrent Technologies Plc develops and manufactures high-end embedded Plug In Cards and Systems for use in a wide range of high performance, long life cycle applications within the telecommunications, defence, security, telemetry, scientific and aerospace markets, including applications within extremely harsh environments. The processor products feature Intel® processors, including the latest generation embedded Intel® Core™ processors, Intel® Xeon® and Intel Atom™ processors.  The products are designed to be compliant with industry specifications and support many of today's leading embedded Operating Systems.  The products are sold world-wide.

For more information on Concurrent Technologies Plc and its products please visit www.gocct.com.

 

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 [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

 

END

 

 

CNTPRMATMTTMBII