REG - Concurrent Tech. - Significant Systems Win

Concurrent TechnologiesAnnouncement

12/06/2023 07:00

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RNS Number : 3047C  Concurrent Technologies PLC  12 June 2023

 
12 June 2023

 

Concurrent Technologies Plc

("Concurrent" or the "Company")

 

Significant Systems Win

Concurrent Technologies lands first substantial Systems contract

 

Concurrent 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.

 

The 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.

 

In 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.

 

Miles 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."

 

 

Enquiries:

 

 Concurrent Technologies Plc
 Miles Adcock - CEO

                                +44 (0)1206 752626

 Newgate (Financial PR)         concurrent@secnewgate.co.uk
 Bob Huxford

                              +44 (0)7469 154806
 Alice Cho

 Matthew Elliott

 Cenkos Securities Plc (NOMAD)  +44 (0)131 220 9771
 Neil McDonald

                              +44 (0)131 220 9772
 Peter Lynch

 

 

 

Note to Editors:

 

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) .

 

All trademarks, registered trademarks and trade names used in this
announcement are the property of their respective owners.

 

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