NSI Global's Vistar subsidiary has received $5.2 million from Technology Partnerships
Canada. The Ottawa-based subsidiary supplies satellite-based communications systems
to develop telematics for the marine, trucking and auto industries. The money
will flow over a three-year period from the federal program.
"Vistar is committed to a broad-based product and system evolution over the
next three to five years that will address opportunities in the new and emerging
telematics market associated with asset tracking, monitoring and management,"
said president Neil Knudsen in a statement.
The funding will go specifically towards the development of the company's "message
channel system," which will expand Vistar's GlobalWave asset tracking system.
The GlobalWave system offers satellite coverage 24 hours a day. Vistar operates
in North American, Mexican, Central American and Caribbean countries.
Technology Partnerships Canada is a federal program that allows companies to borrow
money. The program is run under the federal government's Innovation Strategy and
is aimed at promoting innovation, commercialization, sustainable development and
increased private sector development.
NSI Global Inc. is a Montreal-based company that designs and sells satellite-based
wireless systems and equipment that permit customers to remotely monitor and manage
assets such as trucks, trailers, boats, oil and gas head and pipeline facilities,
chemical storage tanks and intermodal containers.