Quixant PLC Mass production order for gaming cabinet solutions (8440X)
September 01 2022 - 2:02AM
UK Regulatory
TIDMQXT
RNS Number : 8440X
Quixant PLC
01 September 2022
The information contained within this announcement is deemed by
the Company to constitute inside information pursuant to Article 7
of EU Regulation 596/2014 as it forms part of UK domestic law by
virtue of the European Union (Withdrawal) Act 2018 as amended.
1 September 2022
Quixant plc
("Quixant" or the "Group")
First mass production order for Quixant's gaming cabinet
solutions
Quixant (AIM:QXT), a leading provider of innovative, highly
engineered technology products principally for the global gaming
and broadcast industries , is pleased to announce it has received
its first mass production order, valued at c. $4m, for its new
range of turnkey gaming cabinet products. Quixant's customer will
integrate their game software to our turnkey gaming cabinet
solutions to launch a new machine to the North American market. The
first shipments under this order are expected to commence in
December 2022 followed by further deliveries in 2023, underpinning
our growth expectations.
Quixant's turnkey cabinet products expands the Group's range of
outsourcing solutions for the gaming sector by combining the
Group's proven computer platform and monitor technology with a
complete cabinet solution. As a full turnkey product, customers are
now able to focus exclusively on game software development, the
most critical driver of their commercial success, by streamlining
the outsourcing of hardware design and procurement entirely to
Quixant.
Jon Jayal, CEO of Quixant, commented : "We're delighted to be
supporting our customers in bringing their new product offerings to
market through use of our turnkey gaming cabinet solutions. Receipt
of our first mass production order demonstrates how our customers
entrust Quixant as a key outsource partner for core operations.
Amid the challenges in supply chains, the development of our
turnkey cabinet solutions was a natural extension in hardware
outsourcing for customers, leveraging our network and deep industry
know-how to free them up to focus on game development which has the
greatest impact in driving growth in their business.
A key strategic priority for the Group has been on further
deepening our customer relationships by becoming a fully integrated
technology partner, with the expansion of our product offering
providing an additional growth driver for our Gaming Division. This
represents an exciting step forward against that ambition. We are
encouraged by the pipeline of opportunities for our gaming cabinet
solutions, underpinned by a buoyant end market."
Quixant plc Tel: +44 (0)1223 892 696
Jon Jayal, Chief Executive Officer
Johan Olivier, Chief Financial Officer
Nominated Adviser and Broker: Tel: +44 (0) 20 7220 0500
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About Quixant
Quixant, founded in 2005, designs and manufactures highly
optimised computing solutions and monitors principally for the
global gaming and broadcast industries. The Company is
headquartered in Cambridge in the UK, with offices throughout
Europe, North America and Asia. Quixant has its own manufacturing
and engineering operation based in Taiwan and software engineering
and customer support teams based in Italy and Slovenia. All the
specialised products software and manufacturing are produced
in-house and Quixant owns all its own IP some of which is protected
by patents and design rights.
In November 2015 Quixant acquired Densitron Technologies plc.
Densitron has a strong heritage in the sale of electronic display
solutions to global industrial markets. Through Densitron's
experienced sales team, Quixant has a robust platform to build its
business into wider industrial markets. In-depth information on the
Company's products, markets, activities and history can be found on
the corporate website at www.quixant.com.
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