Last checked at 24 Oct 2007 07:00
SOFTWARE RADIO TECHNOLOGY PLC Unimo wins US$60 million order for TETRA handsets
The Directors of Software Radio Technology plc ("SRT" or the "Company") are pleased to announce that Unimo Technology Co. Ltd ("Unimo") has won an order for TETRA handsets worth approximately US$60 million. The order will result in SRT generating approximately US$3 million in royalties, of which approximately US$2 million is expected in revenue in the Company's current financial year.
Unimo commenced production and deliveries of its TETRA handset, which is based on SRT's reference design, earlier this year targeting local Korean and international markets. SRT understands that several further significant prospects are currently in negotiation.
TETRA networks now exist in 85 countries and are rapidly expanding in coverage and capacity. This expansion is creating significant sales opportunities which the emerging Asian manufacturers, using SRT's technology, are well placed to secure.
Simon Tucker, Group Managing Director of SRT said: "We are delighted that our long term partner has won this large contract. We had not expected such a large order so soon after the product launch. We believe this clearly demonstrates the latent demand that exists in the market which will become apparent as more of our Asian customers enter volume production with their handsets. SRT is working with Unimo on a number of other significant prospects. Orders of this size are not easily won and it is a testament to Unimo's high quality TETRA handset and sales efforts. We will continue to work closely with Unimo to secure further sales and to evolve and expand its range of TETRA products."
Enquiries: Software Radio Technology plc 01761 409500
Simon Tucker Managing Director Hanson Westhouse Limited 0113 246 2610 Tim Feather CityRoad Communications 07947 186694 Paul Quade 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 Unimo:
Unimo is a Korean based company which is listed on the Korean stock exchange. For 20 years the company has manufactured a comprehensive range of PMR radio products and other security type products such as CCTV. Unimo has a strong distribution and sales support network within Korea and a growing network of international partners. www.unimo.co.kr
SOFTWARE RADIO TECHNOLOGY PLC