SimiGon Limited SimiGon awarded additional three year contract

TIDMSIM

SimiGon Limited

19 August 2014

SimiGon Ltd

("SimiGon" or "the Company")

SimiGon awarded additional three year contract with key European customer

SimiGon to provide training system upgrade and maintenance & support services to strategic European customer

SimiGon Limited (LSE: SIM), a global leader in providing simulation training solutions, is pleased to announce that it has signed a three year agreement, commencing immediately, to provide additional maintenance and support services for the simulation training centers of a major existing European customer.

The contract, valued at a total of $0.8 million, will contribute to improved revenue visibility over the period of the contract. The two companies have been working together since 2009.

Under the terms of the agreement, SimiGon will provide a SIMbox update for a new version of its customer's aircraft as well as support and warranty for the next three years to its clients Academic Training Centers ("ATC") and internal development labs. The ATC sites include Simulation Based Trainers ("SBT"), based on SimiGon's technology, which enable the end user to save time and money and enhance pilots' training.

SimiGon President and CEO, Ami Vizer, said: "SimiGon's ongoing relationship with this key strategic partner continues to develop and grow stronger. This three year agreement is a further validation of our technology and ability to provide a cost effective solution that suits the clients' needs for better training solutions. The trust in SimiGon's solutions shows that it is becoming a permanent fixture of many organisations training programmes."

The SBT solution, based on SimiGon's SIMbox simulation and training technology platform, is playing an integral role in the customer's training centers. SIMbox, as the baseline training system, enables flight cadets to successfully surmount the numerous challenges of learning to operate and fly the aircraft. This is in line with the trend for advanced, highly interactive, cost-effective training solutions that reduce the cost of real flights and flight instructor hours.

Enquiries:

 
    SimiGon Ltd 
    Ami Vizer, Chief Executive Officer                 Tel: +1 (407) 951 5548 
    Efi Manea, Chief Financial Officer 
     www.simigon.com 
 
    finnCap (NOMAD & Broker) 
    Stuart Andrews , Henrik Persson (corporate         Tel: +44 (0) 20 7220 
     finance)                                           0500 
 
    Luther Pendragon (Media & Investor Relations) 
    Harry Chathli, Alexis Gore, Oliver Hibberd         Tel: +44 (0) 207 618 
                                                        9100

This information is provided by RNS

The company news service from the London Stock Exchange

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