Star Navigation Systems (TSE:SNA) has released an update.
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Star Navigation Systems Group Ltd. has partnered with ProAce Business Solutions Inc. to form a joint venture, Star ProAce India Private Ltd., aimed at bringing Star’s ISMS technology to the Indian market. The new company will be set up in India, with Star initially holding a 10% stake and an option to increase this to 28%, while ProAce will manage the operational challenges, including government approvals and contracts. This strategic alliance leverages ProAce’s expertise in navigating Indian government channels, aiming to capitalize on the ‘Built in India’ strategy for market access and expansion.
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