Concurrent Technologies inks reseller deal with EIZO Rugged Solutions

The AIM-traded firm said selling the cards individually, and as part of a range of system solutions, would provide it with a new revenue stream, and increase its serviceable market.

Concurrent’s strategy was targeted at a section of the defence systems market, estimated in 2020 to be worth $105m, and growing at 17.9% per annum.

It said EIZO’s display and accelerator cards directly link to a processor card via a high-speed interconnect, and are widely used to accelerate processing tasks in intelligence, surveillance and reconnaissance (ISR), signal processing, and artificial intelligence applications.

The deal was Concurrent’s first third-party reseller agreement, and was thus described by the board as a “landmark development” for the firm.

It said it was seeking to secure more similar agreements, as combining third-party products with its own cards would enable it to offer an “increasing variety and complexity” of systems for an “ever-wider” number of applications.

“This partnership further cements our strong relationship with the EIZO Rugged Solutions team, having successfully worked together on many high-profile programmes in the US and worldwide,” said chief executive officer Miles Adcock.

“It is another key part of our recently launched systems offering, providing greater opportunities in what is an extensive and fast-growing market.”

At 1527 GMT, shares in Concurrent Technologies were up 0.46% at 78.36p.

Reporting by Josh White for Sharecast.com.