Software Radio in supply agreement with Tansas Navigator

Shares in Software Radio Technology, recently flattened by a profits warning, perked up after the the developer and supplier of maritime automatic identification systems (AISs) announced a supply agreement with Russian firm Transas Navigator for class A AIS devices.

The devices are worth $1.25m and are expected to be delivered over the next twelve months in minimum batches of goods to the value of $250,000.

Software Radio's devices have been customised for Transas to suit the features and functions required by local regulations. The approval process is ongoing and is expected to take up to five months.

Try 6 free issues of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

The Russian maritime authorities have recently announced a national mandate which means that most commercial vessels will need to fit either class A or class B devices over the next five years.

The company said the initial requirement under the mandate for class A devices will affect an estimated 4,000 of its vessels over the next one to two years. A further 25,000 vessels are expected to require a mixture of Class A and B devices within the five year time-frame.

Shares rose 8.65% to 28.25p.

NR