Business
Significant Systems Win
Significant Systems Win.
About this update from Concurrent Technologies Plc
[{"type":"text","content":"\n\n \n12 June 2023\n \nConcurrent Technologies Plc\n(\"Concurrent\" or the \"Company\")\n \nSignificant Systems Win\nConcurrent Technologies lands first substantial Systems contract\n \nConcurrent Technologies, (AIM: CNC) a world-leading specialist in the design and manufacture of high-end embedded computer and system-orientated solutions for critical applications, announces that it has secured a contract with a UK FTSE 250 company to supply a custom set of embedded systems for a national defence installation.\n \nThe contract, valued at c.£1.25 million, marks a significant milestone for the Company. Building on the successful completion of a £200,000 preliminary design contract, Concurrent will deliver embedded systems units through to 2025, with half of the total revenue expected to be recognised in 2023. \n \nIn line with the Company's announcement last year to expand its product offering into the embedded systems market alongside the existing plug-in-cards business, the contract serves as a validation of the Company's strategy, being its first systems contract surpassing £1 million in total revenue value. Furthermore, whilst Concurrent has an existing relationship for embedded cards with the customer, the addition of embedded systems significantly extended the Company's reach, enabling it to successfully compete for and secure this opportunity.\n \nMiles Adcock, CEO of Concurrent Technologies, commented: \"This exemplifies how the provision of fully integrated embedded systems generates significant value for our customers. While our plug-in-cards form only a relatively modest proportion of the total deliverables, it is the additional systems integration and real-time software that creates the capability our customer requires. We are pleased to have won this in competition, and I have great confidence in the growth of our embedded systems business.\"\n \n \nEnquiries:\n \n\n\n\nConcurrent Technologies Plc Miles Adcock - CEO\n\n\n \n+44 (0)1206 752626\n\n\n\n\n\n\n\n\n\n\n\n\nNewgate (Financial PR) Bob Huxford\nAlice Cho\nMatthew Elliott\n\n\[email protected]\n+44 (0)7469 154806\n\n\n\n\n\n\n\n\n\n\n\n\n\nCenkos Securities Plc (NOMAD) Neil McDonald\nPeter Lynch\n\n\n\n+44 (0)131 220 9771\n+44 (0)131 220 9772\n\n\n\n \n \n \nNote to Edi...