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A signal UK success story in maritime technology [Mail on Sunday (England)](Mail on Sunday (England) Via Acquire Media NewsEdge) SIMON Tucker was staring out of the window of a London-bound train mourning the collapse of his internet firm when he overheard a conversation that was to change his life. A man was complaining that no one wanted to buy his business - the digital research arm of Securicor. Tucker gave him his card. A few months later, after bringing in some friends, he bought the company for Pounds 550,000. Nine years on, Tucker, 40, has turned Software Radio Technology into a world-beater. SRT, based in Bath, Somerset, leads the fastgrowing and lucrative market of maritime identification and tracking devices. Every ship in the world that weighs more than 300 tons must have an automatic identification system (AIS). Costing up to Pounds 2,100, the device, effectively a GPS system, broadcasts a vessel's position with a signal that extends up to 100 miles. It also reads signals from passing ships to avoid collisions. Aim-listed SRT is debtfree and has a market value of Pounds 40.3 million. It is on course to announce a Pounds 2 million profit on turnover of Pounds 9 million for the year ending March 11. About 100,000 vessels are equipped with SRT's device, but at least five million more will need one eventually. Tucker said: 'There's a huge market out there. We're in the perfect position to exploit it.' There are dozens of AIS devices for sale, but 85 per cent share one facet - the clever bit behind the plastic cover is designed by SRT's 30 scientists and engineers. Tucker and his team plan to expand their market with an emergency version that could be used by cruise ship passengers in the event that they have to take to the lifeboats. (c) 2011 ProQuest Information and Learning Company; All Rights Reserved. |