TORONTO, ONTARIO--(Marketwired - Oct. 18, 2013) - Star Navigation Systems Group Ltd. (TSX VENTURE:SNA) ("Star" or the "Company"), announces that the agreement (the "Original Agreement") announced June 22, 2011 between Star and Paradigm Services Limited, has been amended.
Over the past two years, infrastructure has been developed that is required in order to seamlessly interface the analyzed data generated by the STAR-ISMS® equipment on board the aircraft with the customers' Operations Centre. The STAR-A.D.S. ™ system has completed Final System Design Review and is now commercially ready for service.
The Original Agreement provided that Paradigm bore responsibility for: (a) all communications services, and (b) all sales and marketing activities in respect of the airborne data service ("A.D.S.") being offered. Star bore responsibility for STAR-ISMS® technology supply, installation and warranty functions. A recent reassessment of the assigned areas of responsibility under the Original Agreement has resulted in the sales, marketing and customer support functions of this specialized product now being added to Star's responsibilities. Star personnel are intimately familiar with the features, benefits and capabilities of the STAR-ISMS® and will be able to seamlessly assess and respond to more detailed questions and customized requests from potential customers.
Under the terms of the amended agreement, Paradigm will continue to supply communications services. Effective October 18, 2013, in recognition of Star's expanded role under the terms of the amended agreement, revenue sharing has been altered so as to significantly increase Star's share. The service will now be marketed under the name STAR-A.D.S.™
About Star Navigation: (www.star-navigation.com)
Star Navigation Systems Group Ltd. (www.star-navigation.com) owns the exclusive worldwide license to its proprietary, patented In-flight Safety Monitoring System, the first system in the world to feature in-flight data-analysis, monitoring and diagnostics with a real-time connection between aircraft and ground. The STAR-A.D.S.™ service, based upon Star's patented STAR-ISMS® technology, offers airline operators unparalleled real time access to specific, targeted, analysed performance data from the aircraft, while in flight. It can detect issues as they happen, allowing flight operations to either schedule appropriate maintenance or to take other more immediate action. Amongst other benefits, it facilitates effective fuel management and simplifies FOQA, MOQA and ECM reporting, as well as OOOI time recording.
Forward Looking Statements
Certain statements contained in this News Release constitute forward-looking statements. When used in this document, the words "may" "would", "could", "will" and similar expressions, as they relate to Star or its management are intended to identify forward-looking statements. Such statements reflect Star's current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause Star's actual performance or achievements to vary from those described herein. Should one or more of these factors or uncertainties materialize, or should assumptions underlying forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
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