Star Navigation Systems Group Ltd. (CSE: SNA) (OTCQB: SNAVF) has announced it has entered into an arm´s length agreement to acquire a majority position in Finances Gestation & DÃ©veloppement SAS (FGD) subsidiary Solutions Isoneo, Inc., the company said.
Finances Gestion & DÃ©veloppement SAS (FGD) is the French Holding company managing Artal Technologies and Magellium.
STAR will undertake full operational management of the company, to be renamed STAR-ISONEO Inc.
ISONEO is a software company that develops complex solutions in engineering, simulation and development for Canadian customers. Isoneo was already working closely with Star in the development of Stars´ MEDEVAC (STAR-ISAMM and STAR- LSAMM) applications of the patented STAR-A.D.S.technology, and on Star´s current R&D program with Bombardier.
Artal Technologies specializes in onboard real-time systems, data simulation and processing and model-based engineering. Magellium specializes in earth observation, GIS and geo intelligence and has expert knowledge of image processing and related services.
Star-Isoneo Inc. will benefit from the combined strengths of both Artal, Magellium and Star, exploring and undertaking new R&D projects related to the business of the two groups. It will develop new applications directed towards both Canadian and North American OEMs. Star-Isoneo will market the Artal-Magellium capabilities, in engineering and in sensors and image processing, towards the Canadian market.
Star Navigation Systems Group Ltd. owns the exclusive worldwide license to its proprietary, patented In-flight Safety Monitoring System, STAR-ISMS, the heart of the STAR-A.D.S. System. Star´s MMI Division designs and manufactures high performance, mission critical, flight deck flat panel displays for defence and commercial aviation industries worldwide.