The Management Board of Summa Linguae Technologies S.A. based in Krakow (“Issuer”) hereby announces that on 5 January 2021, it became aware that Globalme Localizations Inc. based in Canada (a subsidiary of the Issuer) had been awarded a contract for the provision of technological resources (“Contract”) 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 Contract is USD 1,388,000.00 (PLN 5,135,600.00, converted at the exchange rate of USD 1 = PLN 3.70). The Contract is the continuation of cooperation with the Employer as part of a Master Service Agreement (MSA). The Issuer announces that the Contract concerned and the MSA, although concluded with the same Employer, is independent of the contracts and MSA announced by the Issuer in its Current Report 2/2021 of 4 January 2021, concerns a different scope of services, and is concluded with another internal unit of the Employer.
In accordance with the Contract, the Issuer shall provide the Employer with services involving the provision and management of a team of over a dozen technological resources, including developers and QA engineers.
The Contract announced by the Issuer in this Report builds up the revenue pipeline for 2021. The deadline for its implementation falls on 31 December 2021.
The Issuer’s Management Board considers this Contract 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 order portfolio for 2021 and subsequent years.
The Company’s representatives,
Krzysztof Zdanowski, CEO