Monday, May 5, 2008

Navsys hires firm to help develop GPS business

Monument-based Navsys Corp. has hired Core Capital Group’s electronics and semiconductor unit to help it develop a business around global-positioning system (GPS) technology it developed for military uses.
The technology, called “Tidget,” is a small device with low power requirements that captures GPS data for use later in a variety of ways and has been incorporated in missile defense systems, said Loren Lancaster, managing director of Colorado Springs-based Core Capital.
“They have patents, developed prototypes and found there is tremendous demand for these applications in the consumer and commercial markets,” Lancaster said. Among the potential commercial uses for the Tidget technology is tracking livestock, he said.
Core is completing market research, developing marketing materials, identifying strategic partners and a management team, putting together a funding strategy to raise “tens of millions of dollar" and launching the operation within three to six months, Lancaster said.

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