Last checked at 19 Jun 2018 07:00
19 June 2018
Ubisense Group PLC
("Ubisense" or "the Company")
Contract win
Significant SmartSpace contract to provide location services within the most advanced military training facility in the world
Ubisense (LON:UBI), a market leader in enterprise location intelligence solutions, is pleased to announce a new contract win for its SmartSpace division in North America. Initial revenues under the contract of more than £4m are expected to be recognised in 2018 with a framework agreement for similar sized follow-on orders expected in 2019. The customer is a provider of military training solutions, currently fulfilling a contract with a founding NATO member.
Ubisense's technology will improve military training effectiveness and efficiency by providing a real-time, 3D view of everything within the training scenario. It provides a real-time location environment to deliver more realistic training, including simulated weapons effects, and enables efficient After Action Review (AAR) through integration and indexing to site-wide camera system.
With a strong track record in the field, Ubisense has been working with this customer to prove the advantage that Ubisense's location accuracy provides in addressing the technologically advanced requirements.
This win will provide a solid contribution to the revenues generated from Ubisense's own IP products this year and beyond, in line with the Company's stated growth strategy, and supporting the positive outlook for the business as reported in the Company's 2017 results.
Richard Petti, CEO of Ubisense, commented:
"We are excited to announce this major new contract which will be part of the most advanced series of military training facilities anywhere in the world. The win confirms Ubisense's leadership in the highly specialised field of enabling location based military training, and illustrates how digital twin technology is finding new markets outside of the manufacturing sector for which the Company has historically been recognised. We look forward to working with our new customer in this space for many years to come."
This announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.
For further information, contact:
Ubisense Group plc | +44 (0)1223 535170 | |
Richard Petti | ||
Tim Gingell | ||
finnCap ltd | +44 (0) 207 220 0500 | |
Henrik Persson, Anthony Adams (Corporate Finance) | ||
Tim Redfern, Richard Chambers (Corporate Broking) | ||
Tulchan Communications LLP | +44 (0)207 353 4200 | |
James Macey White, Matt Low, Deborah Roney | ||
About Ubisense
Ubisense (AIM: UBI), a global leader in Enterprise Location Intelligence solutions, is a trusted adviser to some of the biggest automotive, aerospace, communications and utility companies in the world. Our solutions are based on powerful enterprise platforms, supported by a range of customer-led applications, that use location to deliver a real-time digital twin of our customer's physical operations, proven to drive quality, increase productivity, manage complexity and reduce costs.
Founded in 2002, Ubisense is headquartered in Cambridge UK and has offices in France, Germany, North America, Canada and Japan. For more information visit: www.ubisense.net.