Strategic European Customer Awards SimiGon Its Third Contract

Key European customer adopted SimiGon’s SIMbox development tools for its Academic Training Center

ORLANDO, Fla.--()--SimiGon (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 existing European customer.

The Company has been awarded a contract, a third since the companies began working together in 2009, for licenses of the Company’s SIMbox technology at the development labs of this customer’s Academic Training Center ('ATC'). This is an expansion upon an original contract announced on 30 September 2009. Separately, the Company announced in July 2012 that SimiGon’s training software had been adopted for a second customer by this customer.

Under the contract announced today, valued at US$0.34 million with a further contract for maintenance and support services expected to follow, SimiGon has increased the penetration of its SIMbox technology across the customer’s organisation. The SBT systems are expected to be installed at the customer’s ATC sites during 2013. This contract does not change the Company’s expectations for the years ended 31 December 2012 or 2013.

SimiGon President and CEO, Ami Vizer, said: "SimiGon’s relationship with this key partner continues to develop and grow stronger. This latest contract is a clear endorsement of both our technology, and our long term strategy to position SimiGon at the heart of major global organisations.”

The Simulation Based Training (‘SBT’) solution, based on SimiGon's SIMbox simulation and training technology platform, will play an integral role in the customer's new training centers. SIMbox, as the baseline training system, will enable 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.

Contacts

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

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Contacts

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