PAL Aerospace acquires CarteNav
Provincial Aerospace (PAL Aerospace) has entered into a definitive agreement to acquire CarteNav Solutions, a Nova Scotia-based software development company that develops situational awareness and intelligence, surveillance, and reconnaissance (ISR) solutions, the companies announced on 8 August.
CarteNav provides ISR and situational awareness software solutions for air, land and maritime environments, serving defence, security, and commercial clients.
PAL Aerospace, part of the Exchange Income Corporation group of companies, is a Canadian aerospace and defence company with a focus on ISR solutions.
Brian Chafe, chief executive officer, PAL Aerospace, said: 'The acquisition of CarteNav Solutions is extremely exciting. There are many synergies between our two companies as we are each leaders in our specific segments of the ISR market.
'Looking towards the future of the market, developments are rapidly occurring in user interface design, data warehousing, and data analytics. Together we will have greater capabilities and can ensure that we are well equipped to serve this developing market demand.'
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