Posted by Courtney E. Howard
MONTREAL, 22 Nov. 2010. Officials at Embvue Inc., a provider of certifiable embedded systems, network, and testing products and professional services for mission-critical, safety-critical, and security-sensitive systems, plan to enter into a strategic teaming agreement with Edgewood Ventures, an Indian-based technology accelerator focusing on high growth ventures for the Indian market.
A memorandum agreement, signed by both companies on November 10, 2010, sets out the basic terms of the business relationship between the companies and sets a timetable for the formalization of a full teaming agreement, which is expected to be completed over the coming months.
"Edgewood has a very strong presence in the extremely important Indian aerospace market and we are delighted to be their technology and solutions partner for a number of key avionics products that will be being brought to market by Edgewood over the coming months and years in India," says Phil Cole, vice president of sales and marketing at Embvue.
The agreement comes at a crucial time, as India is predicting dramatic demand for civil aircraft infrastructure in the country over the coming years, says a spokesperson. The Indian Government is keen to grow an indigenous aircraft and avionics industry, through technology transfers with existing suppliers, that will provide not only for the needs of this expansion, but also one that will compete on the world market in the future.
"India is a key aerospace growth region, and we at Edgewood are focused on delivering innovative, world-class, home-grown avionics solutions that address the specific needs of this market," says Vishal Verma, founding partner at Edgewood Ventures. "Embvue possesses a number of key technologies and skills that augment our own, making them an ideal partner for us and for our other ventures in India, as we pursue current and future aerospace opportunities in India."
