LE BOURGET, France, June 20, 2017 /PRNewswire/ -- PASSUR Aerospace is partnering with GE Aviation Digital Solutions to leverage GE's domain expertise in software development, design thinking and FastWorks. The work will take place in GE's digital collaboration center in Austin, Texas.
"This agreement is aligned with the goal of supporting the aviation ecosystem with our suppliers and customers to drive efficiency," said Andrew Coleman, chief commercial officer for GE Aviation. "This is a perfect example of working with an innovative partner like PASSUR so they can bring in their customers to discuss new digital solutions to address operational challenges."
With iterative input from their customers, PASSUR is in the process of creating the next generation of aviation intelligence solutions, to address its customers' biggest operational challenges and opportunities with the goal of improving overall airline and airport reliability, service, and cash flow – and is utilizing GE to help accelerate this journey.
"PASSUR partners with its customers to ensure that the best practices from the brightest minds of the industry are reflected in its software solutions," said Jim Barry, PASSUR president and CEO. "GE is bringing the same approach to PASSUR's digital design opportunities by applying the best practices of decision support design to help PASSUR bring leading-edge solutions to its customers."
This partnership will be the kickoff of a design process that will lead to new, transformative capabilities for PASSUR's customers, and will shape the vision and future of PASSUR's integrated suite of solutions. It is an important milestone in both companies' active investment in the Industrial Internet, by advancing the integration of multiple data sources from disparate systems, together with machine learning, onto an integrated decision support solution.
"Another unique aspect of the agreement is that we are leveraging GeniusLink for the design so we're essentially crowd sourcing the desired outcome from the design workshop to accelerate creative innovation with PASSUR," continued Coleman.
PASSUR Aerospace (OTC: PSSR) is a leading business intelligence company, providing predictive analytics and decision support technology for the aviation industry primarily to improve the operational performance and cash flow of airlines and the airports where they operate. PASSUR Aerospace's information solutions are used by the five largest North American airlines, more than 60 airport customers, (including 22 of the top 30 North American airports customers – with PASSUR solutions also used at the remaining eight airports by one or more airline customers), hundreds of business aviation customers, and the U.S. government. PASSUR owns and operates the largest commercial passive radar network in the world that provides aircraft position updates every 1 to 4.6 seconds, powering a proprietary database that is accessible in real-time and delivers timely and accurate information and solutions via PASSUR's industry-leading algorithms and business logic included in its products. www.passur.com
GE Aviation is part of GE (NYSE: GE), the world's Digital Industrial Company, transforming industry with software-defined machines and solutions that are connected, responsive and predictive. GE is organized around a global exchange of knowledge, the "GE Store," where each business shares and accesses the same technology, markets, structure and intellect. Each invention further fuels innovation and application across our industrial sectors. With people, services, technology and scale, GE delivers better outcomes for customers by speaking the language of industry. www.geaviation.com/digital
This press release contains forward-looking statements. Forward-looking statements are subject to risks, uncertainties and assumptions, and are identified by words such as "will", "expects", "estimates", "projects", "anticipates", "believes", "intends", "plans", "may", "pending", "continues", "should", "could" and other similar words. All statements other than statements of historical fact are considered to be forward-looking statements and such forward-looking statements, including statements of management's expectations and beliefs, are based on preliminary information and assumptions and expectations of future events. The Company cannot and does not guarantee that such information, assumptions, and expectations are accurate or will be realized. These forward-looking statements are not guarantees of future performance or results, and should be evaluated in light of important risk factors, assumptions, and uncertainties that could cause the Company's results to differ in material respects, including those related to customer needs, budgetary constraints, competitive pressures, the success of airline trials, the profitable use of the Company's owned PASSURs located at major airports, the Company's maintenance of above average quality of its product and services, as well as potential regulatory changes. Further information regarding some of the factors that could affect the Company's results and cause those results to vary materially from those currently anticipated is contained on Forms 10-K - including under the heading entitled "Risk Factors", 10-Q, and other reports filed with the Securities and Exchange Commission. In addition, undue reliance should not be placed on the Company's forward-looking statements. Any forward-looking statement made by the Company in this press release speaks only as of the date on which we made it. Except as required by law, the Company disclaims any obligation to update its risk factors or to publicly announce updates to the forward-looking statements contained in this press release to reflect new information, future events, or other developments.
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SOURCE PASSUR Aerospace