Portland, Oregon, September 25, 2002 - QinetiQ and Parthus Technologies (NASDAQ: PRTH; LSE: PRH) have just signed a collaborative licensing agreement for Parthus' NavStream 3000 GPS location platform for deployment in a number of areas including defence, telematics, transportation and security/authentication.
NavStream 3000 is the latest and most advanced GPS platform from Parthus. While GPS technology offers unrivalled location accuracy, certain environments like indoor or urban caynons have traditionally degraded accuracy performance. NavStream 3000 uses latest hardware and software advances to determine the exact location of an individual, vehicle, or an asset/device in practically any circumstance. This includes 'static' situations (indoor locations, built up urban environment, or remote/global locations) or in 'high velocity' situations (transportation, automotive or asset tracking).
QinetiQ will be integrating the NavStream 3000 platform with other advanced technologies for which it owns the Intellectual Property (IP) and then marketing the solutions as part of its telematics and telecommunications programmes. The agreement also enables Parthus and QinetiQ to deliver total systems solutions for GPS enabled location based services and to devise suitable modifications or developments to the existing 3000Q chip set, when its performance or functionality needs to be specifically tailored.
QinetiQ's current commercial market development activities embrace four distinct business areas:
- Defence applications
- Transaction authentication that uses GPS positioning for the financial, banking and e-commerce markets.
- A range of telematics products that use GPS as a positioning sensor to provide 'context sensitive information' that is relevant to the users' location.
- 'Real-time' GPS positioning and integration with other sensors on vehicles for motor sport and other leisure pursuits.
"The enormous requirement for instant and exact location capabilities is matched by the sheer complexity of the technical challenge to achieve this," explained Sarah Clark of QinetiQ's Future Systems Technology (FST) Division. "Integrating Parthus' NavStream technology with a diverse range of our own technological solutions, allows us to deliver the very best location technology to our customers. In addition to addressing MoD needs, QinetiQ is securing new commercial customers in a number of new markets as well as established areas such as aerospace, marine, transportation, land & weapons."
"We are very pleased to have formed this collaborative licensing agreement with QinetiQ, Britain's largest science and technology organisation," said Gerry Maguire, general manager for wireless at Parthus. "QinetiQ are yet another global leader to leverage our NavStream GPS technology. Our partnership will see the technology target highly lucrative markets such as telematics and defence applications."
QinetiQ (pronounced ki' ne tik as in 'kinetic energy'), formerly the larger part of DERA (Defence Evaluation and Research Agency) incorporates the bulk of the MoD's non-nuclear research, technology and test and evaluation establishments in its heritage. QinetiQ is one of Europe's largest science and technology solutions providers. Among its staff it employs many leading scientists and internationally acclaimed experts. It offers a unique range of services, consultancy advice and test facilities. These include indoor and outdoor ranges, wind tunnels, marine testing facilities, automotive test tracks and climatic testing laboratories.
QinetiQ operates in markets as diverse as marine, energy, telecommunications, automotive, rail, electronics, defence, space, health, oil & gas, aerospace and information technology.
In July 2000 the Government agreed to a programme that would see the bulk of DERA being set up as a Public Private Partnership (PPP). In July 2001, three-quarters of the agency became the wholly government owned plc, QinetiQ. Then in March 2002, the MoD announced that it would be seeking to find a strategic partner before the end of the year to invest in QinetiQ as a stepping stone to an eventual flotation in 2 - 4 years' time. Around 40 organisations expressed an interest in acquiring a stake in QinetiQ and after a vigorously competitive process The Carlyle Group was named as the preferred bidder in early September 2002. Final negotiations are currently taking place between the MoD and Carlyle to ensure QinetiQ has the freedom and independence to maximise its commercial potential, to the benefit of both taxpayers and QinetiQ's future.
As DERA its pioneering research and development last century included the invention of liquid crystal displays (LCDs), carbon fibre, the technology for flat panel speakers, infra-red sensors and microwave radar, as well as Chobham armour, and shaped charges.
For further information about Parthus.
A PDF copy of this press release is also available here.
Safe Harbor Statement
This document may contain "forward-looking statements''. Any "forward-looking statements'' in this document are subject to certain risks and uncertainties that could cause actual results to differ materially from those stated. Any statements that are not statements of historical fact (including, without limitation, statements to the effect that the company or its management "believes,'' "expects,'' "anticipates,'' "plans'' and similar expressions) should be considered forward-looking statements. Important factors that could cause actual results to differ from those indicated by such forward-looking statements include uncertainties relating to the ability of management to complete the planned merger with Ceva, Inc. and to successfully integrate the operations of the two companies, uncertainties relating to the acceptance of semiconductor intellectual property offerings, expansion of our business, quarterly variations in results, and other uncertainties that are discussed in Amendment No. 1 to out 2001 Annual Report on Form 20-F filed with the SEC on July 9, 2002.