Star Navigation Systems Group Ltd. (TSX VENTURE: SNA)(OTCBB: SNAVF) and Chengdu Spaceon Technology Co. Ltd. said they have executed a formal cooperation agreement (CA).
In 2014, Star and Spaceon entered into a preliminary framework agreement working on a joint tracking product which would leverage their respective expertise, strengths and experience.
The joint product, STAR T.T.T. (Track, Talk, and Text), is designed to offer small airplanes, helicopters, and ground and maritime transport a cost efficient, reliable solution for tracking and communications purposes. It is now in the certification phase.
Star and Spaceon have finalized the cooperation and marketing agreement required by the terms of the framework agreement. It includes provisions for the already developed and marketed STAR- A.D.S. â¢ System.
Star Navigation Systems Group Ltd. owns the exclusive worldwide license to its proprietary, patented In-flight Safety Monitoring System, STAR-ISMSÂ®, the heart of the STAR-A.D.S. â¢ System.
Established in December 2001, Chengdu Spaceon Technology Co., Ltd. is a subsidiary of China Electronic Technology Group Corporation No. 10. Research Institute.