29th Mar 2006 07:00
SOFTWARE RADIO TECHNOLOGY PLC TETRA EXCLUSIVITY AGREEMENT FOR SOUTH KOREA The Directors of Software Radio Technology plc ("SRT" or the "Company") arepleased to announce that SRT has signed an exclusivity agreement with itsexisting customers, Unimo Technology Co. Ltd ("Unimo") and Mercury Corporation("Mercury"), for the supply for SRT's TETRA handset technology to South Korea.SRT signed a licence agreement with Unimo and Mercury for the development of aTETRA handset in July 2005. Under the exclusivity agreement, Unimo and Mercurywill pay SRT an additional fixed fee, payable over the next 18 months, plus anexclusivity premium on the per handset royalty in respect of sales made in theKorean market.Simon Tucker, SRT's Commercial Director said: "We believe this agreementprovides benefits for both sides. As an existing supplier of professionalmobile radio products to the Korean authorities, Unimo and Mercury were alreadywell placed to be a significant player in the TETRA market. This agreementimproves their position further with the expectation that they will gain agreater share of the substantial Korean market, generating more royalties forSRT at an improved rate."Software Radio Technology plc 01761 409500 Simon Tucker [email protected] Shamus Kelly [email protected] Westhouse Securities LLP 0161 838 9140 Tim Feather [email protected] Software Radio TechnologySRT is a developer and licensor of digital wireless technology referencedesigns that facilitate and fast-track the manufacture of sophisticated digitalcommunications and tracking/surveillance products for use within theprofessional homeland security market.SRT currently licenses technology solutions for TETRA handsets (communicationdevices used by professional users such as police & military) and automaticidentification systems (AIS) for ships and boats.About Unimo and MercuryFounded in South Korea over 20 years ago, Unimo now employs approximately 200people and has annual turnover of approximately US$30 million. In partnershipwith Mercury (formerly Daewoo Communications), a large Korean group whichmanufactures fibre optic cable, Unimo is developing a TETRA handset using SRT'sreference design.ENDSOFTWARE RADIO TECHNOLOGY PLCRelated Shares:
Srt Marine Sys.