Software Radio Technology Signs Strategic AIS Pact In S Korea

22nd Jun 2010 07:25

LONDON (Dow Jones)--Software Radio Technology PLC (SRT.LN) said Tuesday it has signed a strategic distribution agreement with a company in South Korea. MAIN FACTS: -The customer is a well established marine electronics company which will now market and sell SRT's range of OEM AIS products under its own brand in the South Korean and other Asian markets. -South Korea has recently announced a forthcoming mandate which may require up to 90,000 vessels to be fitted with an AIS tracking device over the next few years. -This market therefore offers significant potential for SRT. -Shares closed Monday at 23.5 pence. -By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; [email protected] (END) Dow Jones Newswires June 22, 2010 02:25 ET (06:25 GMT)