© Electronics Production | March 16, 2012

Northstar to buy Echotec Sonar

Northstar Electronics has signed a letter of intent to purchase Echotec Sonar, an innovator of HD Omni Sonar technology targeted for the defense, scientific, commercial shipping and commercial fisheries markets.
Northstar has offered 10,000,000 shares of restricted common stock, to be released equally over a three-year period, and 6,000,000 three-year common shares warrants at an exercise price of $0.10.  The deal is agreed to in principal by both parties and is expected to close by mid-April, 2012.

Coming together to develop Echotec's cutting edge technology, are two sonar engineers, Phillip Johnson and Dan Ward. 

Echotec Sonar designs, develops, and will manufacture and sellHigh-Definition Omni Sonar© systems capable of rendering objects in both 2-D and 3-D with extreme resolution.

"After fielding more than 25 sonar designs for the defense and scientific markets, it was clear all of these solutions could now be implemented using off the shelf processors and video cards in conjunction with a fully digital transducer," said Phillip Johnson CEO of Echotec Sonar Corporation. "With the pace of development of high-definition rendering cards/ processors found in most desktops and mobile technologies, Dan Ward [CTO of Echotec Sonar Corporation] and I knew we could build a series of high-performance, high-value sonars to meet the needs of a variety of markets".


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