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BVR Systems Awarded an Additional License Agreement for its Airborne Embedded Training Patents

Written by thomas · Filed Under Aeronautics News 

January 7, 2009

thomas

ROSH HA’AYIN, Israel, January 6 /PRNewswire-FirstCall/ — BVR Systems (1998) Ltd. (OTC Bulletin Board: BVRSF), announced today it has entered into a license agreement, valued at approximately $US 2.9 million, with a major European Defense company pursuant to which BVR granted the company a worldwide, non exclusive license to BVR’s Embedded Virtual Avionics (EVA) patents. In addition to this agreement BVR and the company will further evaluate joint business opportunities in the area of live and virtual training.

“We are very pleased by this agreement,” responded BVR CEO Ilan Gillies. “This award is a further achievement in our long term strategy to capture a major share in the rapidly evolving global embedded training market, and an additional recognition of the added value of our unique IP. We will continue to lead the market with innovative and mature solutions while protecting our IP rights.”

About BVR Systems BVR Systems (1998) Ltd. is a world leader in advanced defense training and simulation systems. The Company offers highly efficient, cost-effective solutions to the simulation, training and debriefing needs of modern air, sea and ground forces.

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