XMReality signs software order worth SEK 1.5 million with US defense group
Linköping, Sweden — XMReality AB (publ) (NASDAQ First North: XMR), an international leader in AR-based remote knowledge transfer, has now signed a follow-on order with an existing customer, a US defense group. The order value is approximately SEK 1.5 million and relates to XMReality Remote Guidance™ software.
In a press release dated 26 February 2019 an ongoing negotiation was revealed with a US defense group for an order worth approximately SEK 1.5 million. The negotiations have now been completed and XMReality has received an order covering subscriptions for the initial 12-month period. The order allows the customer to use a limited number of licenses within all five business areas of the group’s international operations.
Defense preparedness is today a very high-tech business. Defense industries are quick to adopt the latest advanced technology in their products. This means that the need for qualified service and maintenance of defense materiel is increasing significantly in both Sweden and globally. Costs and training needs in defense-related service and maintenance are constantly growing.
“It is gratifying to see how our software is coming into use in sector after sector. We see great potential in being able to make field service work more efficient in many of the world’s largest companies,” says Johan Castevall, XMReality’s CEO.
The order revenues will be allocated over a 12-month period.
For more information, please contact:
Johan Castevall, CEO XMReality
Phone: +46 (0)73 356 04 81
About XMReality Remote Guidance™
XMReality Remote Guidance is an AR-enabled knowledge sharing tool that lets you communicate with someone in a completely different place using speech, gestures, pointers and still images. 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 measure usage
- Integration through client-side open APIs
About XMReality AB
XMReality AB (publ) 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 and enable them to resolve or prevent problems. XMReality’s customers are mainly global industrial companies, including ABB, Siemens Industrial Turbomachinery, Electrolux and Bombardier. XMReality is headquartered in Linköping, Sweden, and is listed on Nasdaq First North (ticker: XMR).
XMReality’s Certified Adviser is Redeye AB
+46 (0)8 121 576 90
The information presented herein is such that XMReality AB (publ) is required to make public in accordance with the EU Market Abuse Regulation. The information was released for publication by the contact person listed above on Friday 15 March 2019 at 08:30 CET.