Ubisense secures 6.8m dollar contract from General Electric

AIM-listed smart technology provider Ubisense Group, has been selected by General Electric to provide location services as part of a major new engagement.

AIM-listed smart technology provider Ubisense Group, has been selected by General Electric to provide location services as part of a major new engagement.

Ubisense reported that the three year $6.8m agreement represented a "significant milestone", describing the contract as one of the largest of its kind, encompassing data migration, validation, development, roll-out and support services.

Ubisense specialises in location-based smart technology and offers two location-oriented products comprising real-time location solutions and geospatial systems. It operates in several industries ranging from manufacturing and utilities to transportation.

In addition to General Electric, other customers include BMW, Airbus, Aston Martin, Caterpillar and Deutsche Telekom.

Richard Green, Chief Executive Officer of Ubisense, said: "We are delighted to have been selected by General Electric for this strategic engagement which demonstrates the strong momentum in the business and reinforces the importance of the agreement between the two companies."

Ubisense's share price was up 0.24% to 206p at 12:02 on Tuesday.

MF

Recommended

Why it pays to face up to your investment mistakes
Investment strategy

Why it pays to face up to your investment mistakes

Buying stocks can be a complicated business. But selling stocks can be tricky, too – even if you sell for the right reasons. Max King explains how to …
17 Sep 2021
Share tips of the week – 17 September
Share tips

Share tips of the week – 17 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
17 Sep 2021
Royal Mail will deliver for investors – here's how to play it
Trading

Royal Mail will deliver for investors – here's how to play it

Royal Mail Group has found its feet in the past 18 months and looks cheap. Matthew Partridge looks at how to trade the shares.
14 Sep 2021
The times may be changing, but don’t change how you invest
Small cap stocks

The times may be changing, but don’t change how you invest

We are living in strange times. But the basics of investing remain the same: buy fairly-priced stocks that can provide an income. And there are few be…
13 Sep 2021

Most Popular

The times may be changing, but don’t change how you invest
Small cap stocks

The times may be changing, but don’t change how you invest

We are living in strange times. But the basics of investing remain the same: buy fairly-priced stocks that can provide an income. And there are few be…
13 Sep 2021
Two shipping funds to buy for steady income
Investment trusts

Two shipping funds to buy for steady income

Returns from owning ships are volatile, but these two investment trusts are trying to make the sector less risky.
7 Sep 2021
How to stop recurring subscriptions becoming a drain on your money
Personal finance

How to stop recurring subscriptions becoming a drain on your money

Tracking and pruning subscriptions isn’t as easy as it sounds. Here's how to take charge.
14 Sep 2021