XMReality announced that it has signed a three-year contract with Saab AB, a Swedish defense and security company, which serves the global market with services and solutions within military defense and civil security, for Remote Guidance™. The initial order value is approximately $180,000 USD.
The initial order covers the upcoming nine 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 its operations, which has led to a thorough evaluation of XMReality Remote Guidance, which has been evaluated both for 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,” said Jörgen Remmelg, CEO of XMReality. “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.”
As per the contract terms, most 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.
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.
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).
XMReality develops and sells solutions that revolutionize 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 enterprise customers are primarily global industrial companies, including ABB, Siemens Industrial Turbomachinery, Electrolux and Bombardier. The company also offers XMReality Business for small- and medium-sized companies. XMReality is headquartered in Linköping, Sweden, with an office in Portsmouth, NH; it is listed on Nasdaq First North Growth Market (ticker: XMR). www.xmreality.com.