NovAtel Inc. (NASDAQ:NGPS), a precise positioning technology company, announced that it has been accepted as a Full Member of Galileo Services, the first company outside Europe to be inducted into this leading group of organizations. Galileo Services is a non-profit organization made up of a consortium of businesses and agencies involved with Galileo satellite system downstream technology and services. One of the goals of the organization is to develop technologies and test out value-added services and applications in order to fully exploit all possible Galileo business potential. Galileo is the European Union’s state-of-the-art Global Navigation Satellite System (GNSS), which is expected to be fully operable from 2010 with up to 30 satellites orbiting the earth. It is designed for both civilian and government purposes and will be controlled and operated by civil management.”As a Full Member of Galileo Services, NovAtel Inc. has joined an international group of companies who are working towards creating a complete vision of the Galileo system and the businesses it has the potential to produce,” stated Tony Murfin, NovAtel’s Vice President, Business Development. “NovAtel’s contributions to the technology and initial commercialization opportunities associated with the Galileo satellite system development are something of which we are extremely proud. We look forward to the opportunities that will arise with the growth of new markets being created by the Galileo system.”
“NovAtel has been involved in the development of Galileo technology since 2000. Most recently, the Company has made a significant technological contribution with their participation in the development of the Galileo Reference Receiver for the Galileo ground system,” added Gard Ueland, President of Galileo Services. “Galileo Services selects its members on the basis of their expertise and motivation to undertake future Galileo business opportunities. NovAtel’s business and technological knowledge will be a definite asset to the Galileo Services organization, contributing to our goal of enhancing the economic value of the Galileo system.” [via press release]
