TORONTO-Paradigm Advanced Technologies Inc. said it closed an agreement to acquire the rights for a patent from Eastern Investments L.L.C.
The patent is a wireless location patent that covers the apparatus and method of transmitting position information from satellite navigation signals over cellular systems to a base unit, and displaying that information, Paradigm said.
“We are currently in discussions with several GPS-based location service providers to license the right to use the GPS cellular technology covered in our patent. This technology is rapidly becoming the global standard for location methodology in the transportation industry, as well as for locating people and monitoring valuable assets,” said Eduardo Guendelman, president and chief executive officer of Paradigm.
