Concurrent Technologies has announced at DSEI 2023, taking place in London on 12-15 September, that it has been awarded a £1.25m ($1.55m) contract with a UK FTSE 250 company to supply a custom set of embedded systems for a national defence installation.
Building on the successful completion of a £200,000 preliminary design contract, Concurrent will deliver embedded systems units through to 2025, with half of the total revenue expected to be recognised in 2023.
The contract follows the company’s announcement in 2022 that it would be expanding its product offering into the embedded systems market alongside the existing plug-in-cards business. The contract is the company’s first systems contract surpassing £1m ($1.2m) in total revenue value.
Miles Adcock, CEO of Concurrent Technologies, commented, “This exemplifies how the provision of fully integrated embedded systems generates significant value for our customers. While our plug-in-cards form only a relatively modest proportion of the total deliverables, it is the additional systems integration and real-time software that creates the capability our customer requires. We are pleased to have won this in competition, and I have great confidence in the growth of our embedded systems business.”Subscribe to the FINN weekly newsletter