Magellan and Mitsubishi Electric's VSIS Announce Strategic Partnership.SUNNYVALE, Calif.--(BUSINESS WIRE)--Sept. 15, 1998--Satellite access technology manufacturer Magellan Corp., a subsidiary of Orbital Sciences Corp. (NYSE NYSE See: New York Stock Exchange :ORB), and systems designer and developer VSIS VSIS Vault Safety and Inventory System VSIS Victualling Stores Issuing Ship Inc., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Mitsubishi Electric Mitsubishi Electric Corporation (三菱電機株式会社 America Inc., have announced the formation of a strategic partnership for the development of global positioning system Global Positioning System: see navigation satellite. Global Positioning System (GPS) Precise satellite-based navigation and location system originally developed for U.S. military use. (GPS) semiconductor and system products for high-volume, low-cost consumer market applications. Terms of the agreement were not disclosed; a product announcement will be made in early 1999. "This is a highly complementary partnership. Magellan possesses unique core technology capabilities in satellite-based positioning, navigation, timing and communications. VSIS leads in system-on-a-chip (SOC) development and in providing applications support for quick-to-market solutions. Mitsubishi Electric is a world-class semiconductor manufacturer. We are excited to be working with VSIS and Mitsubishi," said Magellan's Senior Vice President of Product Development Todd Townsend. VSIS President and Chief Executive Officer Dr. Osamu Tomisawa explained: "Without a doubt, the combination of technology expertise, design and development skill, manufacturing capability and marketing strengths represented in this partnership will result in market-leading system-on-a-chip solutions for a variety of consumer market applications. To be allied with a satellite access technology pioneer and proven GPS leader like Magellan is a real plus." Companies interested in the products to be developed by Magellan and VSIS should contact either John Bressler of Magellan at 408/524-1400 or jbressler@ashtech.com, or Brian Sackett of Mitsubishi Electric at 408/730-5900 or sackett_brian@edg.mea.com. About VSIS Inc. Sunnyvale-based VSIS was formed by Mitsubishi Electric America in 1996 to address the emerging systems-level applications requirements of customers in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. by defining and designing chipsets and system-on-a-chip solutions. The company combines its systems and software marketing and chip design expertise with Mitsubishi Electric's submicron semiconductor process technologies and capabilities to create products in a variety of markets. These areas include 3-D graphics, connectivity and networking, Java-enabled applications, MPEG (Moving Pictures Experts Group) An ISO/ITU standard for compressing digital video. Pronounced "em-peg," it is the universal standard for digital terrestrial, cable and satellite TV, DVDs and digital video recorders (DVRs). encoding/decoding, digital broadcasting Digital broadcasting is the practice of using digital data rather than analogue waveforms to carry broadcasts over television channels or assigned radio frequency bands. It is becoming increasingly popular for television usage (especially satellite television) but is having a , mobile navigation and electronic commerce. Additional information on VSIS can be found at www.vsisinc.com. About Magellan Corp. Also based in Sunnyvale, Magellan designs, manufactures and markets satellite access technology products for a variety of commercial, industrial, governmental, scientific and consumer markets worldwide. The company is organized into five strategic business units including: Ashtech-brand high-precision positioning, navigation and timing products for survey/mapping, GIS, marine/aviation and OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and sales; Magellan consumer Global Positioning System (GPS) products, Magellan wireless communications products; Magellan Driver Information Systems; and technology licensing. Additional information on Magellan can be found at www.magellangps.com. CONTACT: VSIS Inc., Sunnyvale Natalie Jo, 408/523-6896 or Magellan Corp. Jim White, 909/394-5007 |
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