PAL Aerospace buys Canadian ISR company
Provincial Aerospace Ltd. has signed a definitive agreement to acquire CarteNav Solutions Inc., a Nova Scotia-based software developer that provides situational awareness and intelligence, surveillance, and reconnaissance (ISR) solutions for maritime, land, and air environments. Both companies will now be part of the Exchange Income Corporation (EIC) group of companies.
CarteNav serves defence, security, and commercial clients. Its flagship product, AIMS-ISR® has become the software of choice for both government and non-government customers in more than 30 countries around the world.
“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,” said Brian Chafe, CEO, PAL Aerospace. “Together we look forward to enhancing the product and service offerings we are each able to offer.”
“CarteNav Solutions has grown from a small software company into an international industry leader within the ISR market,” said CarteNav president Paul Evans. “I am proud of what CarteNav has accomplished over the last 14 years and feel joining PAL Aerospace, along with EIC’s support, will allow us to rapidly move to the next level.”
In the global ISR market “developments are rapidly occurring in user interface design, data warehousing, and data analytics,” explained Chafe. “Together we will have greater capabilities and can ensure that we are well equipped to serve this developing market demand.”
PAL Aerospace is a Canadian aerospace and defence company with a focus on intelligence, surveillance, and reconnaissance (ISR) solutions. CarteNav solutions Inc. is an international supplier of mission management and sensor management software solutions for the airborne, land, and maritime environments.