REG - Concurrent Tech. - Largest single contract win

Concurrent TechnologiesAnnouncement

20/06/2024 07:00

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RNS Number : 1385T  Concurrent Technologies PLC  20 June 2024

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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

                                          +44 (0)1206 752626
 Kim Garrod - CFO

 Alma Strategic Communications              +44 (0)20 3405 0205

Josh Royston

 Hannah Campbell

 Cavendish Capital Markets Limited (NOMAD)  +44 (0)131 220 9771

Neil McDonald

                                          +44 (0)131 220 9772
 Peter Lynch

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 (http://www.gocct.com/) .

 

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