Scisys German Subsidiary Awarded Contract With Airbus Defence & Space

LONDON (Alliance News) - Scisys Group PLC on Wednesday said that its German subsidiary, Scisys ...

Alliance News 16 January, 2019 | 11:26AM
Email Form

LONDON (Alliance News) - Scisys Group PLC on Wednesday said that its German subsidiary, Scisys Deutschland GmbH, has been awarded a contract with Airbus Defence & Space for the development of the EGNOS V3 performance assessment facility.

Scisys, a supplier of bespoke software systems, said the contract worth EUR1.3 million is under a programme funded by the European Union and the European Space Agency.

"Satellite-based augmentation systems such as EGNOS improve positioning accuracy. EGNOS comprises a network of over 40 ground stations across Europe, which analyse data from navigation satellites and send correction data to receivers via Galileo satellites," the company explained.

It added: "The main purpose of the performance assessment facility is to receive, analyse and process performance-related satellite navigation data and to create consolidated status reports for ground segment operators."

Delivery will start in January and is expected to last until July 2025.

Chief Executive Officer Klaus Heidrich said: ""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. This step has enabled us to protect EU funded work and puts the group in a solid position to navigate Brexit going forward."

Last week, Scisys's German unit was awarded another contract with the European Space Operations Centre worth EUR2.8 million.

Scisys shares were trading up 0.9% at 174.00 pence each.

By Elena Cherubini; elenacherubini@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

Email Form
Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Rating
SciSys Group PLC 172.50 GBX -1.43 -
About Author Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.