Last checked at 13 Mar 2007 07:00
SOFTWARE RADIO TECHNOLOGY PLC MARINE DIVISION UPDATE
The Directors of Software Radio Technology plc ("SRT" or the "Company") are pleased to announce that the Company's subsidiary, Software Radio Technology (Marine Technology) Limited, has entered into an agreement with Saab Transponder Tech AB of Sweden for the supply of its low cost AIS (Automatic Identification System) Class B technology solution. In addition, one of SRT's existing marine customers, Comar Systems Limited, has been awarded US Coast Guard approval for its AIS Class B product.
Saab is the world's leading provider of AIS network solutions and other marine electronics with an established network of distributors worldwide. The agreement with Saab will involve SRT providing its AIS technology for Saab to integrate into a range of products which will be sold through its distribution channels. In addition to this agreement, SRT and Saab have entered a memorandum of understanding which lays the foundation for closer co-operation to tackle particular national markets where a system approach is required.
Neil Peniket, SRT's Operations Director said: "Saab has been a leader in AIS systems for many years and therefore our companies are natural partners in AIS as the market grows. Our low cost technology solutions will enable Saab to capitalise on its brand and the networks installed and to be installed around the world."
Comar has been successfully shipping its AIS Class B product containing SRT's core AIS solution since late 2006. With over 10 million vessels, the US market offers significant potential for all manufacturers of AIS products and therefore USCG and Federal Communications Commission approvals are a necessary step. SRT's AIS platform became the first and only AIS Class B platform to be approved by the USCG in February this year. This approval should enable all SRT AIS customers to obtain this approval quickly for their products.
Simon Tucker, SRT's Managing Director said, "Our marine business continues to make significant progress. Our strategy of building a global network of partners, each with their own multiple sales channels and brand proposition and all using our core technology, is starting to yield meaningful results."
Enquiries: Software Radio Technology plc 01761 409500
Simon Tucker simon.tucker@softwarerad.com Managing Director CityRoad Communications 020 7248 8010 Paul Quade 07947 186694 Hanson Westhouse Limited 0113 246 2610 Tim Feather About SRT:
Founded in 1987 and quoted on AIM in 2005, SRT focuses on the development of turnkey technology product solutions for homeland security applications. SRT's technologies are used by manufacturers to fast track and de-risk the development of their own products. SRT has focused on the areas of professional voice and data radio communications such as TETRA and maritime identification and tracking systems, such as AIS: both of which are global standards. The company has a worldwide customer base with a business model based on customers paying royalties on each product manufactured.
About Saab:
Based in Sweden, Saab Transpondertech AB is a wholly owned subsidiary of the Saab Group. The company manufacturers, supplies and installs complete AIS system solutions as well as individual transponders through a global network of agents. http://www.transpondertech.se
About Comar:
Based in the UK, Comar is a privately owned company that specialises in the provision of AIS products. www.comarsystems.com
SOFTWARE RADIO TECHNOLOGY PLC