INVISIO long-term contract for UK MoD renewed

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STOCKHOLM, April 13, 2022 /PRNewswire/ --INVISIO and its partner Marlborough Communications has been awarded a three-year In-Service Support (ISS) contract, with theoption of an additional two years to supply hearing protection and communication ancillaries to the UK Ministry of Defence (MoD).

Metadata

Provider:

PR Newswire

Retrieved on:

Wednesday, April 13, 2022

Information

Tags:

CEO, Mod, ISS, Hearing, Software, Federal Office of Bundeswehr Equipment, Information Technology and In-Service Support, Acoustics, Engineering, Technology, Nasdaq Stockholm, United Kingdom, Solution, Communication, SEK, Corporate communication, ManTech International

Geotags:

SWEDEN, THAILAND, FRANCE, USA, ITALY

Organisation:

INVISIO AB

Stock Symbol:

Bloomberg:IVSO@SS

ISIN:SE0001200015

RICS:IVSO.ST

Summary

Key Points:

STOCKHOLM, April 13, 2022 /PRNewswire/ --INVISIO and its partner Marlborough Communications has been awarded a three-year In-Service Support (ISS) contract, with theoption of an additional two years to supply hearing protection and communication ancillaries to the UK Ministry of Defence (MoD).
The award follows a previous 5-year contract with the same customer for hearing protection and communication ancillaries awarded in 2017.
The contract gave riseto approximately SEK 180 million in order intake over the agreement period.
The new contract refers to the INVISIO branded personal system and is part of theend-customer's ongoing modernization program of systems that enable effective communication and hearing protection.

INVISIO long-term contract for UK MoD renewed

STOCKHOLM, April 13, 2022 /PRNewswire/ -- INVISIO and its partner Marlborough Communications has been awarded a three-year In-Service Support (ISS) contract, with the option of an additional two years to supply hearing protection and communication ancillaries to the UK Ministry of Defence (MoD).

The award follows a previous 5-year contract with the same customer for hearing protection and communication ancillaries awarded in 2017. The contract gave rise to approximately SEK 180 million in order intake over the agreement period.

The new contract refers to the INVISIO branded personal system and is part of the end-customer's ongoing modernization program of systems that enable effective communication and hearing protection.

An initial order of SEK 16 million has been received and further orders are expected to support current in-service equipment and to bring into service new technology developed by INVISIO as part of the mid-life enhancement of the system.

The agreement concerns products and solutions based on INVISIOs new AI- and software-based technology platform. Fueled by a range of new innovations and designed for defense and public safety professionals on critical missions, the new platform sets the bar for market-leading audio performance and hearing protection.

"We are very pleased that the end user, who operates under the most challenging conditions, has chosen to renew the long-term contract. We estimate that the customer will order to the same extent as under the previous contract, but as usual there are no guarantees for any volumes," says Lars Højgård Hansen, CEO of INVISIO.

For further information, please contact:

Lars Højgård Hansen, CEO, INVISIO AB

Mobile: + 45 5372 7722 | email: [email protected]

Michael Peterson, Director Investor Relations & Corporate Communication, INVISIO AB

Mobile: +45 5372 7733 | email: [email protected]

This information is information that INVISIO AB (publ) is obliged to disclose under the EU Market Abuse Regulation. The information was released for public disclosure, through the agency of the CEO, on April 13, 2022, at 08:30 CEST.

About INVISIO AB (publ)

INVISIO develops and sells advanced communication systems that enable professionals in noisy and mission critical environments to communicate, protect their hearing and work effectively. The company combines specialist knowledge in acoustics and hearing with broad engineering know-how in software, materials technology and integration. INVISIO's solutions are marketed under the two brands INVISIO and Racal Acoustics. Sales are via the headquarters in Copenhagen and sales offices in the USA, France, the United Kingdom, Italy and Thailand and via a global network of partners. INVISIO's registered office is in Stockholm and the company is listed on Nasdaq Stockholm (IVSO). Additional information is available on the company's website .

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INVISIO long-term contract for UK MoD renewed