Prior to this latest contract, PME had already signed 7-year contracts for $10m and $25m in the current financial year.
The latest announcement is for $18m over 5-years.
That brings the total new contract wins to $53m.
And we are still only in the first half of the year..
Gold in Sacks were only forecasting $33m worth of 7-year contract wins for the year.
So we are already 61% ahead of that forecast.
The new contract is for a cloud-based system using Google’s cloud.
When I half-jokingly wrote that it would serve the shorters right if Alphabet offered $50 a share for PME, another poster commented that it would more likely be a hardware manufacturer, like GE or Fuji that would be interested in PME.
Maybe, but if PME’s technology is generating lots of custom for Google’s cloud in the form of huge
and rapidly growing image data sets, why wouldn’t PME be of interest to Google’s parent, Alphabet, or its ilk?
For the time being, it seems that the founders, with their controlling interest, are having too much fun to sell out, but everything has a price.
Cheers
(20min delay)