The Management Board of Summa Linguae Technologies S.A. based in Krakow (“Issuer”) hereby announces that on 11 May 2020, the Issuer’s subsidiary, i.e. Globalme Localizations Inc. based in Vancouver, Canada (“Globalme”) concluded an agreement and was awarded a contract for the provision of data services (“Agreement”, “Contract”) by a company dealing with ecommerce and operating the largest online store in the world, located in the USA, (“Employer”).
The total value of the contract is USD 556,800.00 (PLN 2,344,128.00, converted at the rate USD 1 = PLN 4.21), and the implementation deadline has been set for December 2020.
The Contract involves the collection, transcription and annotation of audio/voice content (data) intended for training artificial intelligence (AI) algorithms that are then used by the Employer in the voice interface offered by it.
The collection and annotation of data for the purposes of the Contract are carried out with the use of a proprietary application and a technology platform owned by Globalme.
The Issuer’s Management Board considers this Contract material, as its value meets the materiality criteria defined in the Issuer’s Disclosure Policy, and due to the fact that its award is yet another important step in building up the revenue backlog for 2020 and developing the data services segment.
Article 17(1) of MAR – confidential information.
The Company’s representatives,
Krzysztof Zdanowski, CEO