The Swedish defense and security company Saab orders XMReality Remote Guidance to support their global operations
XMReality AB (publ) has signed a three-year contract with Saab AB, a Swedish defense and security company who serves the global market with services and solutions within military defense and civil security, for Remote GuidanceTM. The initial order value is approximately 1 600 TSEK.
The initial order covers the upcoming 9 months, after this period the number of licenses will be reviewed. The contract and order cover software licenses and server maintenance without any hardware content. As a strong player within defense and security, Saab has very high standards for their operations which has led to a thorough evaluation of XMReality Remote Guidance where they have evaluated both the software and potential use cases. The software evaluation also covered a safety accreditation.
“This is a very important order and positions XMReality in the aerospace and defense sector where safety standards and standards in general are very high. From my many years in this sector, I see a vast number of use cases where our Remote Guidance can create additional value and speed up processes.”, says Jörgen Remmelg, CEO at XMReality.
As per the contract terms, the majority of the commitment will be delivered at the beginning of the contract period. Hence the majority of the order value will be recognized as net sales in accordance with this.
For more information, please contact:
Jörgen Remmelg, CEO XMReality
Phone: +46 739 822 409
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 in a completely different location. 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 AB
XMReality develops and sells solutions that revolutionizes knowledge sharing through Augmented Reality (AR). The company is a market leader in Remote Guidance, which uses AR to guide onsite staff to enable quick dispositions, resolutions and/or problem prevention. The product is currently used in almost 60 countries. ABB, Nestlé, Electrolux, AB Inbev, Sidel, Hexagon, Bühler and Minibea Intec are some of the more than 80 customers. With operations in Sweden and US, XMReality is listed on Nasdaq First North (ticker: XMR). Further information is available under www.xmreality.com
Saab serves the global market with world-leading products, services and solutions from military defense to civil security. With operations on every continent, Saab continuously develops, adopts and improves new technology to meet customers’ changing needs. Read more about Saab at www.saabgroup.com
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 aforementioned contact person for publication on Wednesday, 14 October 2020 at 13:00 CET.