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 opportunities
arising around the world and seek to leverage our AIS solutions through
strategic agreements with well placed partners. These Agreements are with
companies who are existing suppliers of maritime equipment in this specific
market. We therefore believe they are ideally suited to generate significant
orders 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