1 Sep 2022 07:00
The information contained within this announcement is deemed by the Company to constitute inside information pursuant to Article 7 of EU Regulation 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 as amended.
1 September 2022
Quixant plc
("Quixant" or the "Group")
First mass production order for Quixant's gaming cabinet solutions
Quixant (AIM:QXT), a leading provider of innovative, highly engineered technology products principally for the global gaming and broadcast industries, is pleased to announce it has received its first mass production order, valued at c. $4m, for its new range of turnkey gaming cabinet products. Quixant's customer will integrate their game software to our turnkey gaming cabinet solutions to launch a new machine to the North American market. The first shipments under this order are expected to commence in December 2022 followed by further deliveries in 2023, underpinning our growth expectations.
Quixant's turnkey cabinet products expands the Group's range of outsourcing solutions for the gaming sector by combining the Group's proven computer platform and monitor technology with a complete cabinet solution. As a full turnkey product, customers are now able to focus exclusively on game software development, the most critical driver of their commercial success, by streamlining the outsourcing of hardware design and procurement entirely to Quixant.
Jon Jayal, CEO of Quixant, commented: "We're delighted to be supporting our customers in bringing their new product offerings to market through use of our turnkey gaming cabinet solutions. Receipt of our first mass production order demonstrates how our customers entrust Quixant as a key outsource partner for core operations. Amid the challenges in supply chains, the development of our turnkey cabinet solutions was a natural extension in hardware outsourcing for customers, leveraging our network and deep industry know-how to free them up to focus on game development which has the greatest impact in driving growth in their business.
A key strategic priority for the Group has been on further deepening our customer relationships by becoming a fully integrated technology partner, with the expansion of our product offering providing an additional growth driver for our Gaming Division. This represents an exciting step forward against that ambition. We are encouraged by the pipeline of opportunities for our gaming cabinet solutions, underpinned by a buoyant end market."
Quixant plc Jon Jayal, Chief Executive Officer Johan Olivier, Chief Financial Officer
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About Quixant
Quixant, founded in 2005, designs and manufactures highly optimised computing solutions and monitors principally for the global gaming and broadcast industries. The Company is headquartered in Cambridge in the UK, with offices throughout Europe, North America and Asia. Quixant has its own manufacturing and engineering operation based in Taiwan and software engineering and customer support teams based in Italy and Slovenia. All the specialised products software and manufacturing are produced in-house and Quixant owns all its own IP some of which is protected by patents and design rights.
In November 2015 Quixant acquired Densitron Technologies plc. Densitron has a strong heritage in the sale of electronic display solutions to global industrial markets. Through Densitron's experienced sales team, Quixant has a robust platform to build its business into wider industrial markets. In-depth information on the Company's products, markets, activities and history can be found on the corporate website at www.quixant.com.