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Software Radio Technology

  • BY: Andrew Hore |
  • POSTED: 03/09/2009 |

Software Radio Technology has announced a $18m order for its Automatic Identification System technology for marine tracking systems on boats.

The order is for a three year period and deliveries will vary between quarters. The first delivery has been made. The Asia-based customer will supply the marine tracking systems in one Asian country which is making the system, which helps to prevent collisions and theft, compulsory. The total market could be up to 220,000 vessels so the value of the contract could increase if the product sells well. SRT says its technology is low cost compared to competitorsí technology.

Shares in SRT rose 0.75p to 6.75p each, which values the marine tracking technology developer at £6.6m. The share price has increased from 3.125p a fortnight ago. Nearly 2m shares were traded one week ago.

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