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19 September 2025

Concurrent Technologies Plc

("Concurrent", the "Company" or the "Group")

$5.25m US defence contract secured

Concurrent Technologies Plc (AIM: CNC), a designer and manufacturer of leading-edge computer products, systems, and mission-critical solutions used in high-performance markets by some of the world's major OEMs, is pleased to announce that it has been awarded a $5.25m contract for the provision of design services to a US-based major defence prime contractor. 

The contract represents the first time that this customer has outsourced the design of its own computer product to a third party and the first occasion on which Concurrent will be providing design services, further enhancing the Group's established reputation with the customer. The contract is effective immediately and will run through 2025 and 2026 and reflects a broader industry trend among the major prime contractors to outsource hardware development.

The product leverages Concurrent's proven expertise in designing its own high performance, open standards, Intel-based computing products, while incorporating customer-specific content and features, including some of the customer's own technology.  

The customer regards this product as 'transformative' for them, aligning their way of working with the Department of Defence's drive for open standards and more agile solutions, whilst also enabling this customer to focus its efforts on their value adding software and system offering. 

Miles Adcock, CEO, said: "This contract represents a fantastic step for Concurrent into delivering large scale design services, and enables us to strengthen the growth and capability development of our engineering team. We have spent extensive time with this customer on collaboration and a major aspect to this project is dovetailing with their quality and manufacturing systems to enable them to produce the product in their own factory and integrate it into their wider enterprise. 

"We are well positioned to benefit from the growing trend of outsourced hardware development, and this contract provides a valuable opportunity to assess the potential of design services as a future line of business."

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About Concurrent Technologies Plc

Concurrent Technologies Plc develops and manufactures high-end embedded plug-in cards and systems for use in a wide range of high-performance, long-life cycle applications within the telecommunications, defence, security, telemetry, scientific and aerospace markets, including applications within extremely harsh environments. The processor products feature Intel® processors, including the latest generation embedded Intel® Core™ processors, Intel® Xeon® and Intel Atom™ processors. The products are designed to be compliant with industry specifications and support many of today's leading embedded operating systems. The products are sold world-wide.