(Alliance News Via Acquire Media NewsEdge) LONDON (Alliance News) - Software Radio Technology PLC said Monday that it had inked an agreement with Canada based satellite network operator exactEarth Ltd to develop a technology that will allow automatic identification system transceivers to be tracked from space.
The two companies will develop a new technology called ABSEA, which can be embedded in the transceivers, allowing them to be tracked by exactEarth's satellites.
Software Radio Technology will receive a share of the revenues generated from commercialising this tracking data. The first products enabled with the ABSEA technology are expected to be deployed later in the year.
Shares in Software Radio Technology were trading up 6.5% at 23.29 pence Monday morning.