Thursday, December 31, 2015
Flyht Announces Agreement to Resell Future Iridium Applications
[Avionics Today 12-31-2015] Flyht Aerospace Solutions has granted a non-exclusive license to use certain Intellectual Property (IP). The license is granted to a technology company for an aggregate license fee of $2.5 million, payable in the first quarter of 2016.
The licensed IP includes Flyht software and hardware technology that is currently sold to an Original Equipment Manufacturer (OEM). The non-exclusive license does not include any of Flyht’s IP associated with the company’s ground-based software program, Uptime, nor does it include the Automated Flight Information Reporting System (AFIRS 228S) proprietary Embedded Logic Application (ELA) for real-time processing of aircraft data. As part of the agreement, FLYHT obtains the right to resell the licensee’s future Iridium Certus product that will function on the Iridium Next constellation (if the licensee brings such a product to market).
“This non-exclusive license is mutually beneficial for Flyht and the licensee,” said Flyht CEO Thomas R. Schmutz. “The license agreement announced today will enable new opportunities for both organizations and does not impact Flyht’s ability to sell and develop its own product lines, nor does it impact, in any way, existing revenue streams or future planned revenue streams.”