Shares of Giga-tronics Inc. (GIGA) are higher by nearly 94% to $2.15 in pre-market trading on Tuesday after the co. announced that it has entered into a strategic software licensing arrangement with Lockheed Martin (LMT) to develop and license threat simulation software as a commercial product that brings advanced threat environment simulation capability to its new Advanced Signal Generator Hardware Platform. The company expects to be shipping the Advanced Signal Generator with the new software package within 6 months. The Software and Hardware will be sold together as a Real-Time Threat Emulation System (Real-Time TEmS), for distribution to US customers only.
Mark Elo, Vice President of Marketing of Giga-tronics, said:
“This is a win for the Electronic Warfare community, Lockheed Martin and Giga-tronics. The threat generation software is built by a team that has a strong legacy of program support and brings many new capabilities in a Commercial Off the Shelf solution that is both ready as a turnkey bench solution or a scalable alternative for larger projects.”
John Regazzi, President and CEO of Giga-tronics, said “Lockheed Martin was one of the initial Advanced Signal Generator customers, this partnership demonstrates their belief in its potential and capabilities.”
In the past 52 weeks, shares of the San Ramon, California-based firm have traded between a low of $0.86 and a high of $3.15 and are now at $2.25. Shares are down 33.53% year-over-year and 22.38% year-to-date.