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.

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.

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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