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Seeing Machines Ltd - SEE signs MOU with leading Semiconductor Company

RNS Number : 3247Y
Seeing Machines Limited
08 September 2020
 

 

Seeing Machines Limited

 

8 September 2020

 

Seeing Machines signs MOU with leading Semiconductor Company

 

Seeing Machines Limited (AIM: SEE, "Seeing Machines" or the "Company"), the advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety, has signed a Memorandum of Understanding (MOU) with a global semiconductor company, as formal terms of engagement are finalised to license the Company's OcculaTM Neural Processing Unit ("OcculaTM").

 

Targeting the expanding interior monitoring market for the automotive industry, this collaboration represents the third pillar of the Company's recently launched Embedded Product Strategy which has been set out to license OcculaTM in ASIC form, to world-leading semiconductor companies for integration with any automotive compute platform.

 

OcculaTM is a custom accelerator designed for integration into ARM based SoC's (System on Chip) for the purpose of accelerating Seeing Machines' software and to support ultra low-power human face, eye and body tracking. Licensing OcculaTM to third party semiconductor companies creates additional pathways to automotive customers offering Driver Monitoring System (DMS) technology on a range of hardware.

 

Paul McGlone, CEO at Seeing Machines commented: "Licensing our unique IP in this way allows us to distribute our technology through major auto and technology suppliers onto complementary platforms. I'm delighted to see our Embedded Product Strategy coming to life, as we partner with large automotive semiconductor companies, creating new channels to market and addressing the growing integration challenges for driver monitoring technology faced by our OEM and Tier 1 customers."

 

Enquiries:

 

Seeing Machines Limited

+61 2 6103 4700

Paul McGlone - CEO

Sophie Nicoll - Corporate Communications


 

 

Cenkos Securities plc (Nominated Adviser and Broker)

Neil McDonald

Pete Lynch

+44 131 220 6939

 

 

Stifel Nicolaus Europe Limited (Joint Broker)

+44 20 7710 7600

Alex Price

Nick Adams

 

 

 

 

 

The person responsible for arranging the release of this announcement on behalf of Seeing Machines is Sophie Nicoll, SVP, Corporate Communications.

 

About Seeing Machines (LSE: SEE), a global company founded in 2000 and headquartered in Australia, is an industry leader in vision-based monitoring technology that enable machines to see, understand and assist people. Seeing Machines' technology portfolio of AI algorithms, embedded processing and optics, power products that need to deliver reliable real-time understanding of vehicle operators. The technology spans the critical measurement of where a driver is looking, through to classification of their cognitive state as it applies to accident risk. Reliable "driver state" measurement is the end-goal of Driver Monitoring Systems (DMS) technology. Seeing Machines develops DMS technology to drive safety for Automotive, Commercial Fleet, Off-road and Aviation. The company has offices in Australia, USA, Europe and Asia, and supplies technology solutions and services to industry leaders in each market vertical.

 

www.seeingmachines.com

 

 

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Price: 5.45

Market: AIM
Market Cap: £203.68 m
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