MONTREAL, QC, November 19, 2010 (Press-News.org) Embvue Inc., a leading provider of certifiable embedded systems, network and testing products, and professional services for mission-critical, safety-critical and security-sensitive systems, announced today that it plans to enter into a strategic teaming agreement with Edgewood Ventures, an Indian-based technology accelerator focusing on high growth ventures for the Indian market.
A memorandum agreement was signed by both companies on November 10, 2010. The memorandum agreement sets out the basic terms of the business relationship between the companies and sets a timetable for the formalization of a full teaming agreement, which is expected to be completed over the coming months.
"The memorandum agreement that has just been signed is the first milestone in what we expect to be a long and fruitful relationship between our companies," said Phil Cole, VP Sales & Marketing at Embvue. "Edgewood has a very strong presence in the extremely important Indian aerospace market and we are delighted to be their technology and solutions partner for a number of key avionics products that will be being brought to market by Edgewood over the coming months and years in India."
The agreement comes at a crucial time, as India is predicting dramatic demand for civil aircraft infrastructure in the country over the coming years. The Indian Government is keen to grow an indigenous aircraft and avionics industry, through technology transfers with existing suppliers, that will provide not only for the needs of this expansion, but also one that will compete on the world market in the future.
"India is a key aerospace growth region, and we at Edgewood are focused on delivering innovative, world-class, home-grown avionics solutions that address the specific needs of this market", said Vishal Verma, Founding Partner at Edgewood Ventures. "Embvue possesses a number of key technologies and skills that augment our own, making them an ideal partner for us and for our other ventures in India, as we pursue current and future aerospace opportunities in India."
About Embvue
Embvue is an experienced, process-driven, systems and software engineering company specializing in the provision of products and services for customers developing complex, real time, mission or safety-critical embedded systems. Additional information is available at www.embvue.com.
About Edgewood Ventures
Edgewood is an Indian-based accelerator, with offices in Delhi and Bangalore, focusing on high growth ventures in the United States and India. Edgewood partners have been part of the telecom revolution of the late 1990's. Our relationships facilitate a strong and diverse track record that enables us to identify growing technology segments that change the landscape of the digital era. Edgewood has focused on a number of major projects including Semiconductor, Wireless, Voice Over Internet, Aerospace and Homeland Security. www.edgewoodventuresllc.com
Press Contact Embvue:
Phil Cole - VP Sales & Marketing
Phone: +1 514 733 1331 x 202
Fax: +1 847 589 9166
Email: colep@embvue.com
Embvue and Edgewood Ventures Announce Their Intent to Collaborate on Avionics Products for the Indian Aerospace Market
Embvue and Edgewood Ventures launch strategic partnership for Indian aerospace market.
2010-11-19
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[Press-News.org] Embvue and Edgewood Ventures Announce Their Intent to Collaborate on Avionics Products for the Indian Aerospace MarketEmbvue and Edgewood Ventures launch strategic partnership for Indian aerospace market.