ABB places additional order with an annual value of SEK 1.5 million
ABB Process Automation in the U.S. has ordered a significant number of Remote Guidance licenses using the Framework Agreement XMReality has in place with ABB. XMReality has previously been used within ABB Motion, a sister Business Area to ABB Process Automation. The new licenses will mainly be used to support ABB customers in the aftermarket process.
The initial purchase order covers the two months of November and December, to align the annual payment period with the calendar year. The purchase order for the next upcoming 12 months is due in December of this year. Hence, the payments with the corresponding cash-flow effect will be in Q4-2022 (SEK 0.25 million) and Q1-2023 (SEK 1.5 million) respectively. The agreement has automatic renewal. This 12-month subscription amount equals SEK 1.5 million in Annual Recurring Revenues. The full order amount covers software licenses for an ABB branded (white-labelled) version of XMReality Remote Guidance.
‘’I am very pleased to extend the use of our Remote Guidance within the ABB Group. ABB is one of our first large customers from back in 2017, and one that we have always had a tight dialogue with regarding the evolution of our product. We will work very hard to maintain the state-of-the art simplicity and quality of our product, and we will continue to take feedback on our product roadmap from ABB to further grow the relationship. We are also looking forward to continue our growth in the U.S market’’, says Jörgen Remmelg, CEO at XMReality.
The information in this release is such that XMReality AB (publ) is required to make public in accordance with the Market Abuse Regulation issued by the EU. The information was released by the below mentioned contact person for publication on Wednesday September 28, 2022, 14:00 CEST.
The company’s Certified Adviser is Redeye AB
www.redeye.se
For more information, please contact:
Jörgen Remmelg, CEO XMReality
Phone: +46 739 822 409
E-mail: jorgen.remmelg@xmreality.se
About XMReality Remote Guidance™
XMReality Remote Guidance is an AR-enabled knowledge sharing tool that lets you communicate with gestures, speech, chat and pointers with someone at a completely different place. It includes:
- A unique hands-overlay technology that lets you guide someone else’s hands—as if you were there.
- A web portal to manage teams and users, and to measure usage
- Integration through client-side API’s (Application Programming Interfaces)
About XMReality
XMReality AB (publ) develops and sells solutions that revolutionize knowledge transfer through so-called Augmented Reality (AR). The company is a market leader in remote guidance where you guide a person on site via AR to solve problems or prevent them from occurring. The product is used globally in more than 60 countries. ABB, Nestlé, Electrolux, Sidel, Heineken and Saab are examples of the more than 125 customers. XMReality is based in Linköping and in the U.S. and is listed on the Nasdaq First North Growth Market (ticker: XMR). For more information, visit: www.xmreality.com
About ABB
https://global.abb/group/en/about
