BVR Systems Announces Entering Into Licenses Agreement With Aircraft Manufacturer Tuesday January 9, 4:29 am ET
ROSH HA'AYIN, Israel, January 9 /PRNewswire-FirstCall/ -- BVR Systems (1998) Ltd. (OTC Bulletin Board: BVRSF - News), announced today it has entered into agreement with an aircraft manufacturer pursuant to which BVR granted the company a worldwide, royalty bearing, non-transferable, non exclusive license to BVR's Embedded virtual Avionics (EVA) patent, European Patent 0,732,677 and US Patent 5,807,109. "We are very pleased by this agreement," responded BVR CEO Ilan Gillies. "This is an important step in the implementation of our strategy in the area of embedded training, and an additional recognition in the added value of our unique IP. We will continue to lead the market with innovative and mature solutions while protecting our IP rights.
"As previously announced by BVR, Frost & Sullivan have recently acknowledged the potential of BVR's unique and mature EVA (Embedded Virtual Avionics) solution. The potential is partly attributed to our patent protected IP rights that materialize in agreements such as this."
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