SimiGon Limited Contract Win

TIDMSIM

SimiGon Limited

07 October 2019

SimiGon Ltd

("SimiGon" or "the Company")

Strategic European customer selects SimiGon technology for new aircraft

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 European customer (the "Customer").

The contract award is for the provision of SimiGon's Commercial Off the Shelf ("COTS") training and simulation environment, SIMbox (the "Contract"). The Customer will use SIMbox technology as the baseline for a new aircraft platform joining its Academic Training Centers ("ATC"). This is the fourth aircraft platform the Customer has selected SIMbox as its Ground Based Training Systems solution.

Under the Contract announced today, SimiGon has successfully increased the use of SIMbox in 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 2019.

Ami Vizer, SimiGon's Chief Executive Officer and Executive Chairman, said: "This is another great win for SimiGon and illustrates our continued relationship with the Customer. This is another excellent sign from the market that our advanced technologies accelerate training and save time and money for our partners. We appreciate the Customer's confidence in our SIMbox products and look forward to continuing our relationship".

Enquiries:

 
 SimiGon Ltd 
 Ami Vizer, Chief Executive Officer and Executive 
  Chairman                                              [phone] 
 Efi Manea, Chief Financial Officer 
 
 finnCap (NOMAD & Broker)                               [phone] 
 Scott Mathieson / 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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October 07, 2019 02:00 ET (06:00 GMT)