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.
20 June 2024
Concurrent Technologies Plc
(the
"Company" or the "Group")
Concurrent Technologies
announces its largest single contract win
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,
has secured its largest single contract to date for $4.46M to
supply computer plug-in-cards to a major US Defence and Aerospace
prime contractor.
The contract is for a large number
of multiple standard products from the Company's refreshed product
portfolio. The products are being used in a major Department of
Defence programme to upgrade specific sensing equipment used in
different aircraft types across multiple fleets.
Concurrent Technologies has been
working closely with this customer for over two years on smaller
defence capability upgrade programmes, demonstrating commitment to
the relationship and developing trust and technical credibility.
The Company was able to secure this win due to the strength of its
relationship and growing track record with this US customer, along
with its ability to deliver the latest technical
features.
Miles Adcock, CEO of Concurrent
Technologies, commented:
"We had the
right products available at the right time to satisfy the needs of
our customer, enabling us to participate in this important
upgrading of capability for the US Air Force, demonstrating the
benefit of the Group's refreshed product development
approach. Not only is it our largest ever contract, it's also
our largest ever design-win. With an anticipated lifetime value in
excess of $40M, this is a significant opportunity for the Company
with sizeable purchase orders expected for the next seven to 10
years."
Enquiries:
|
Concurrent Technologies Plc
Miles Adcock - CEO
Kim Garrod - CFO
|
+44 (0)1206 752626
|
|
Alma
Strategic Communications
Josh Royston
Hannah Campbell
|
+44 (0)20 3405 0205
|
|
Cavendish Capital Markets Limited
(NOMAD)
Neil McDonald
Peter Lynch
|
+44 (0)131 220 9771
+44 (0)131 220 9772
|
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.