Provincial Aerospace Ltd. (PAL Aerospace) of St. John’s, Newfoundland and Labrador, acquired CarteNav Solutions Inc., a Nova Scotia-based software developer that provides situational awareness and intelligence, surveillance and reconnaissance solutions for maritime, land and air environments. Both companies will be part of the Exchange Income Corporation (EIC) group of companies and CarteNav will maintain its brand name going forward, Paul Evans, president of CarteNav told Professional Security Canada.
“CarteNav has been a small-to-medium enterprise that has grown a lot over last few years. Looking forward to our future, we felt it was the right time and the right partner to continue growing, particularly with our focus on international markets,” Evans said. Evans added that CarteNav’s software offerings will complement PAL Aerospace’s services and capabilities.
“We are excited with the acquisition to enhance our capabilities in the global marketplace,” Michael Sangster, chief commercial officer for PAL Aerospace told Professional Security Canada. “We are both greatly excited for the opportunity to combine our portfolio capabilities and persist globally. We see this strategic acquisition as an opportunity to continue generating economic value and jobs within Canada.”
PAL Aerospace is an aerospace and defence company with a focus on intelligence, surveillance and reconnaissance solutions. CarteNav Solutions Inc. deploys its mission management and sensor management software solutions in airborne, land and maritime environments for defence, security and commercial clients 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,” stated Brian Chafe, CEO, PAL Aerospace. “Together we look forward to enhancing the product and service offerings we are each able to offer.”
In the global ISR market “developments are rapidly occurring in user interface design, data warehousing, and data analytics,” Chafe explained. “Together we will have greater capabilities and can ensure that we are well equipped to serve this developing market demand.”