Last checked at 22 Dec 2009 07:00
SOFTWARE RADIO TECHNOLOGY PLC SRT signs deals targeting AIS mandates
Software Radio Technology plc ("SRT" or the "Company") is pleased to announce that it has signed two agreements (the "Agreements") to provide a range of AIS solutions to meet the requirements of expected AIS mandates in an Asian country.
The Agreements are with separate companies based in the target country and will involve SRT supplying its AIS modules and OEM products. The Agreements require the payment of initial fees to SRT to cover certain customisation work to the Company's standard solutions. These fees will be paid in instalments over the next nine months.
The target mandates are expected to require AIS devices to be fitted to over 60,000 locally registered vessels and 5,000 buoy and shore stations commencing in 2010.
Simon Tucker, CEO of SRT said, "We continue to see new AIS market opportunitiesarising around the world and seek to leverage our AIS solutions throughstrategic agreements with well placed partners. These Agreements are withcompanies who are existing suppliers of maritime equipment in this specificmarket. We therefore believe they are ideally suited to generate significantorders from 2010 onwards."Enquiries:Enquiries: Software Radio Technology plc +44 (0)1761 409500 Simon Tucker simon.tucker@softwarerad.com Chief Executive Officer Westhouse Securities Limited +44 (0)20 7601 6100 Tim Feather Matthew Johnson
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