NAV CANADA acquires majority interest in Searidge Technologies

Posted by John McHaleOTTAWA, Ontario, 1 July 2010. NAV CANADA announced it acquired a majority interest in Searidge Technologies Inc., a provider of intelligent video solutions to air traffic control and airport markets. Searidge Technologies provides its customers with intelligent video solutions to help them cost effectively increase safety and efficiency of surface management operations. The company's intelligent video platform IntelliDAR is a robust Non-Cooperative Surveillance System (NCSS) and the first operational system of its kind in an air traffic control tower to provide detection, positioning, and tracking of all targets on an airport surface. "NAV CANADA believes in the potential of intelligent video technology to drive the adoption of new methods to support air traffic surveillance at airports. Searidge continues to demonstrate innovation and leadership in this space and together we intend to bring to market proven solutions that meet strict industry standards," says John Crichton, president and chief executive officer, NAV CANADA. NAV CANADA is a world leading Air Navigation Service Provider (ANSP), that has already invested $1.4 billion modernizing the Canadian civil air navigation system. NAV CANADA's investment in Searidge enhances its strategy that allows other ANSPs and airports around the world to take advantage of air traffic management (ATM) technology solutions, which it has provided to customers on three continents, NAV CANAQDA officials say. Searidge and NAV CANADA will leverage technology, business and marketing synergies to continue to provide innovative solutions to air traffic control markets. "Searidge is customer focused and driven to innovation -- this partnership addresses both of those areas. The investment will accelerate the development of new features, technologies, and products while the relationship with NAV CANADA will enhance our ability to innovate and test new concepts," says Moodie Cheikh, chief executive officer, Searidge Technologies. Searidge staff, including its co-founders, will remain in their current positions and the company will continue to operate as an independent entity, including support of the company's customers and partners. NAV CANADA, the country's civil air navigation services provider, is a private sector, non-share capital corporation financed through publicly-traded debt. With operations from coast to coast to coast, NAV CANADA provides air traffic control, flight information, weather briefings, aeronautical information services, airport advisory services, and electronic aids to navigation.

NAV CANADA acquires majority interest in Searidge Technologies

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