Source: Yahoo! Finance
Waterloo, ON – 2 August 2019 – Maerospace Corporation, a supplier of predictive analytics to the maritime markets, said Friday that it signed a license agreement with Raytheon Company (NYSE: RTN)’s Raytheon Canada subsidiary.
Maerospace is assuming the responsibility of developing, deploying and maintaining a third-generation high frequency surface wave radar system.
“Partnering with Maerospace and integrating their innovative capabilities with the current HFSWR will not only augment the technology but will further increase the operational advantage for the customer,” Terry Manion, Raytheon Canada Limited’s vice president and general manager, said in a statement.
The HFSWR system provides enforcement agencies with real-time surveillance of 200 nautical miles of a country’s Exclusive Economic Zone, helping fend off illegal offshore activities like smuggling and unregulated fishing, according to Maerospace.