Sagetech enters receivership amidst financial challenges

“This may result in the sale of all or part of Sagetech’s business, and is expected to take a few months,” Furey said.

“During this process Sagetech will continue to operate its business, satisfying customer requirements for high-quality avionics and manufacturing products and services,” he said.

Furey explained that Sagetech is funda-menally two businesses. The avionics business consists of designing and manufacturing combat-proven XP transponders and next-generation MX transponders.

The XP family of transponders is the market-leading solution for UAVs (drones). It ensures flight safety by providing real-time visibility of drones to air traffic controllers and combat airspace managers. The MX product line is nearing completion, Furey said, and consists of a Federal Aviation Administration-certified civil transponder and Department of Defense-certified military transponder. The MX12B military transponder, he noted, will ensure secure NATO identification of military UAVs so that they can safely provide intelligence and search and reconnaissance data to military commanders around the globe.

“Sagetech’s aviation transponder and UAV manufacturing capabilities have tremendous value,” Furey said, “and the process of receivership will help identify the most appropriate way to continue to serve customers in the short term while we find the optimal way forward.”