Concurrent Technologies secures two 'important contracts'

(Sharecast News) - Computer products designer Concurrent Technologies said on Thursday that it has secured "two important contracts" via its recently acquired Phillips Aerospace business.

Concurrent stated that with a total value of $518,000, the products were new offerings directly related to its stated strategy for providing integrated computer systems.

One contract was with a US-based defence company to supply a rugged conduction-cooled chassis to host the customer's own Plug-in-Cards, with Concurrent set to undertake the design engineering, production, and testing of the chassis, representing its first rugged systems win.

The second contract was to provide two-slot systems that have been developed over the last year as part of a roadmap to align designs with the DoD "Sensor Open Systems Architecture" standard.. The two-slot system incorporates Concurrent Technologies' computer PIC, as well as a rugged GPU provided by its partner, Eizo Rugged.

Chief executive Miles Adcock said: "These contract wins reinforce the rationale for acquiring Phillips Aerospace, where we now have a combined entity that is capable of winning and executing systems contracts, such as these, with the potential for material multi-year revenues. We have the ambition over the next few years to grow our systems revenue to the same size as our traditional PICs business and we expect to be able to announce further deals through the year to support this."

As of 1155 BST, Concurrent shares were up 0.12% at 105.12p.

Reporting by Iain Gilbert at Sharecast.com