Fictional Missile, Raython '402', Any basis in reality?

[Graham1973]

I was reading a really bad naval action novel. Inside was this description of a rather strange 'smart bomb' system which the author stated was a Raython product, does it have any basis in a real world proposal by any company?

...a small missile in two parts. The first contained a camera, a computer and a very sensitive position-sensing device. The second part carried the warhead.

The target was first acquired using normal radar. ... Only the first part of the system was launched at this point... little bigger than a large seagull, powered by a compressed gas engine that gave it a range of 20 miles.

...

The camera in the nose of the missile relayed a high-quality digital colour picture back to the operator; ... which allowed him to guide the first part of the system to the selected target.

...

The rest of the system was automatic. The second part of the missile, containing the warhead, was launched the moment before the first section impacted. Following the position information relayed by the leading missile...

Pg 355-356, The Iron Man by John Watson, Warner Books, 1998