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ÅAC Microtec enters into an Interim Cooperation Agreement with Bright Ascension Ltd

ÅAC Microtec AB ÅAC Microtec AB (publ) and Bright Ascension Ltd have today entered into an Interim Agreement that facilitates the joint offering of products for spacecraft avionics.

The aim of the cooperation is to integrate ÅAC's "Sirius Avionics platform" with Bright Ascension's "GenerationOne Flight Software" Development Kit. The joint product creates a turnkey solution for mission planners and spacecraft integrators. It also combines the powerful architecture of ÅAC's avionics platform with Bright Ascension's feature-rich and flight-proven software implementation for spacecraft management.

The combined offering significantly reduces the development timescales for spacecraft integrators by enabling them to rapidly customize the existing platform and create a solution fully tailored to their specific mission requirements.

The interim agreement aims to accelerate the marketing activities of the joined platform and to support the ongoing activities of systems integration, whilst the commercial relationship is expected to be formalized within the next two months.

- Following the establishment of our UK office earlier this year, this collaboration represents the first step of our plans to increase our activities in the UK for the benefit of our global sales and marketing. More importantly, it is great to be working with another like-minded, young, dynamic company with excellent ideas, says Iraklis Hatziathanasiou, VP Business Development Europe.

- We are excited by our formal collaboration with ÅAC Microtec. The combination of ÅAC's innovative Sirius products and our industry-leading software platform is extremely powerful, and we see a wide range of opportunities and applications for our combined technology across the space industry, says Peter Mendham, Managing Director Bright Ascension Ltd.

2017-05-23

FOR MORE INFORMATION:
Please visit: www.aacmicrotec.com or contact:

Acting CEO and CFO Mats Thideman, [email protected], +46 70 556 09 73
Chairman of the board Rolf Hallencreutz, [email protected] , +46 70 964 21 60

The information in this press release is such that ÅAC Microtec AB (publ) shall announce publicly according to the EU Regulation No 596/2014 on market abuse (MAR). The information was submitted for publication, through the agency of the contact person set out above, at 14:45 on 23 May, 2017.

ABOUT ÅAC MICROTEC:
ÅAC Microtec is a supplier of spacecraft avionics and data management products, such as onboard computers, mass memory storage and power supplies. ÅAC's technical competence includes the advanced and robust, fault-tolerant microelectronics for critical space applications. The company also markets complete satellites (weight <150 kg) in collaboration with other specialized suppliers.

ÅAC Microtec's shares are traded on Nasdaq First North Stockholm. G&W Brokerage, telephone +46 8 503 000 50, is the Certified Adviser.

ABOUT BRIGHT ASCENSION:
Bright Ascension are space software specialists offering products and consultancy services to address the complete mission lifecycle. Their innovative and responsive approach is ideal for space ventures of all sizes. Bright Ascension's industry-leading technology lowers development time, cost and risk for missions from single nano-satellites through to larger spacecraft and constellations.

Bright Ascension are based in Dundee and Edinburgh, Scotland, UK. For more information, please visit: http://www.brightascension.com/

21 November 2017

ÅAC Microtec AB Date: Monday, November 27, 10:50 am 
Place: Svenska Mässan, Mässans Gata 8, Gothenburg

06 November 2017
Regulatory

ÅAC has in recent weeks won important and prestigious orders indicating that the company's transition from a development company into a commercial product company is well underway. ÅAC would like to underscore though that this transition also involves transiting from one revenue model with steady income streams from development projects into the new revenue model primarily based on product sales.

06 November 2017
Regulatory

ÅAC has secured a contract with Airbus Defense and Space in UK to supply power subsystems for the ground testing of the ExoMars rover. This is the first of two orders for this type of equipment with an initial order value of 1.1 MSEK a delivery timescale of February 2018.

03 November 2017
Regulatory
ÅAC Microtec AB ÅAC has received an order for a development unit of its Sirius product line from a new Japanese customer. The development unit will be used in the spacecraft design process. It is expected that further orders will follow for manufacturing flight models that aim to be launched in the timeframe 2019-2020. The value of the initial order is approximately 0.4 MSEK and will be delivered before the end of November 2017.
06 October 2017

In addition to his role as CFO, Mats Thideman is appointed Deputy CEO

03 October 2017
Regulatory

ÅAC Microtec's Sirius products have been selected as key components for the development of two new platforms. The customers are commercial organisations based in England and Japan. The order value of the development unit's amounts to approximately 65 kEUR.

04 September 2017
Regulatory

Brent Abbott brings to ÅAC extensive business development experience and was in his previous role responsible for major contracts with CYGNSS, a NASA constellation now flying, and OTB-1, the world's first completely commercial hosting satellite mission, due for launch next year. Michael Carey, current CEO, will remain in AAC Microtec North America Inc. as a member of the board.

23 August 2017
Regulatory

ÅAC Microtec AB ÅAC Microtec appoints Alfonso Barreiro, a seasoned space sector professional, as its new CEO.

16 August 2017
Regulatory

ÅAC Microtec AB ÅAC Microtec AB (publ.) receives 1.4 million SEK from the Swedish National Space Board to continue development of the patent pending Bluestone technology.

31 July 2017

ÅAC Microtec AB (publ) and Bright Ascension Ltd launch a joint product offering for satellite integrators.

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IR CONTACT

Mats Thideman CFO and Deputy CEO
+46 70-556 09 73 [email protected]

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