The Management Board of Summa Linguae Technologies S.A. based in Krakow (“Issuer”) hereby announces that on 4 January 2021, it became aware that Globalme Localizations Inc. based in Canada (a subsidiary of the Issuer) had been awarded contracts for the provision of multilingual data management services (“Contracts”) to a NASDAQ-listed company that is the world’s largest producer of microprocessors and microcircuits, based in the USA (“Employer”).
The total value of the Contracts is USD 4,500,000.00 (PLN 16,650,000.00, converted at the exchange rate of USD 1 = PLN 3.70). The Contracts are the continuation of cooperation with the Employer as part of a Master Service Agreement (MSA). The Issuer estimates that revenue generated throughout 2021 from all contracts awarded by the Employer, including those covered by this Report, will be up to ca. USD 7,000,000.00 (PLN 25,900,000.00, converted at the exchange rate of USD 1 = 3.70).
Based on the Contracts awarded, the Issuer shall provide the Employer with technological integration services and services involving the operation of content management tools as well as central, global and comprehensive management services for all types of multilingual data processed by the Employer.
The Contracts announced by the Issuer in this Report build up the revenue pipeline for 2021. The deadline for their implementation falls on 31 December 2021.
The Issuer’s Management Board considers this Agreement material, as its estimated value meets the materiality criteria defined in the Issuer’s Disclosure Policy, and due to the fact that its conclusion is yet another important step in building up the contract portfolio for 2021 and subsequent years.
The Company’s representatives,
Krzysztof Zdanowski, CEO