SimiGon shares soar after agreement with US Department of Defense
Abraham Darwyne
Company News - 2 min read
12:31, 18th April 2019

SimiGon (LSE: SIM) FOLLOW, the simulation training solutions provider, has signed a Blanket Purchase Agreement with the U.S. Department of Defense Enterprise Software Initiative.

SimiGon and the Department of Defense agreed on pricing and processes for government customers to purchase SimiGon’s products and services.

SimiGon President and CEO, Ami Vizer, said: "We are delighted to join DoD ESI under this BPA. Through signing the BPA, SimiGon joins blue chip technology companies such as IBM, Microsoft, Oracle and Adobe as an official DoD ESI BPA contract holder.

Shares in SimiGon soared, trading 34.12% higher at 12.75p on Thursday afternoon

Mr. Vizer added: “The BPA is another validation of SimiGon's technology, software products and business model as a viable solution for Federal agencies seeking advanced training and simulation solutions for multiple domains."

The company said that total potential sales amount for all selected vendors under the agreement is approximately $238.6 million over a period of 10 years.

The Enterprise Software Initiative is sponsored by the DoD Chief Information Officer to manage, streamline and lower the total cost of ownership across the Department of Defense, Coast Guard and Intelligence Communities for commercial software, IT hardware, and services.

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