SimiGon Shares Jump As Secures US Air Force Mixed Reality Contract

(Alliance News) - SimiGon Ltd on Thursday said it was awarded a further strategic contract by the ...

Alliance News 18 July, 2019 | 10:18AM
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(Alliance News) - SimiGon Ltd on Thursday said it was awarded a further strategic contract by the US Air Force to provide SIMbox-based T-6A mixed reality training devices for USAF undergraduate pilot training at Laughlin Air Force Base.

The simulation and training solutions provider said mixed reality training devices enhance pilot training by blending virtual and physical worlds and giving trainees options to train individually or collectively. Meanwhile, instructors will be able to track trainee progress using SimiGon's advanced data analytics capabilities.

The expected revenue from the contract has already been factored into management's expectations for 2019, the AIM-listed company said.

"We are excited to support the USAF undergraduate pilot training training needs with our advanced technologies integrated with mixed reality to provide a truly accelerated learning environment," said SimiGon President & Chief Executive Ami Vizer.

Vizer added: "We expect this contract, where we have implemented a subscription-based pricing model, to lead to additional mixed reality training opportunities in the USAF as well as more business in the wider civilian arena."

SimiGon shares were trading 8.1% higher on Thursday in London at 10.00 pence each.

By Evelina Grecenko; evelinagrecenko@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
SimiGon Ltd 7.50 GBX -9.09 -
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