SSY.L Share News (SSY)

(Sharecast News) - Bespoke software systems provider SCISYS Group announced on Wednesday that its SCISYS Deutschland operation had been awarded a contract with Airbus Defence and Space for development, integration, verification and maintenance of the EGNOS V3 Performance Assessment Facility (PAF).The AIM-traded firm said the total contract value was expected to be €1.32m, with delivery beginning in January and expected to last until July 2025.It said the contract was under a programme funded by the European Union and the European Space Agency, and provided further valuable underpinning to SCISYS' existing market guidance.SCISYS explained that satellite-based augmentation systems, such as EGNOS, improved positioning accuracy.EGNOS comprised a network of more than 40 ground stations across Europe, which analysed data from navigation satellites and send correction data to receivers via Galileo satellites.The main purpose of the PAF was to receive, analyse and process performance-related satellite navigation data, and to create consolidated status reports for ground segment operators.SCISYS' Space division in Germany would provide a solution for the PAF to enable detailed performance monitoring of 40 ranging and monitoring stations.The firm said the further contract win underpinned SCISYS Space's position as "proven and well recognised" experts in the field of satellite navigation, and as a leading provider of integrated solutions."We are delighted with this further contract win by our Space division, which concludes the recent series of Space contact wins which together provide an important endorsement of the board's decision last year to redomicile SCISYS' parent company to Dublin," said chief executive officer Klaus Heidrich."This step has enabled us to protect EU funded work and puts the SCISYS group in a solid position to navigate Brexit going forward."Heidrich said that, with the firm's strong involvement in EGNOS and Galileo, it was one of the "leading partners" in Europe's independent satellite navigation programmes."The future prospects of the group continue to look highly encouraging."