Yes, shoe mounted transmitter and a receiver for each light source.
I have the Cactus V5's and I highly recommend them.
I did a lot of research before I purchased mine. They are the only ones that had all the features that I wanted.
They are totally reliable, handle high voltage flashguns (up to 300v), have 16 channels, can be automatic or manual trigger and operate over a very long distance (100 metres).
The battery compartment is a brilliantly designed sliding drawer and their price is mid ranged giving excellent value for money.
I use mine with either flashguns or my three head studio light set but usually a combination of studio and flash with great results.
The Cactus V5's come packaged as a single unit or two to the box.
Each V5 is a transmitter and a receiver in one, just flick a switch to configure. So if you are going to use two flashguns, you will need to buy a single and a twin pack.
The V5's also have external jacks for cable operation.
Cactus Wireless Flash Transceiver V5 Duo New in BOX! Professional Choice! | eBay