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Seeing Machines inks deal with semiconductor group as part of new strategy

The company is also finalising terms to license its Occula Neural Processing Unit, which is designed to enhance its driver monitoring software

Seeing Machines Ltd. - Seeing Machines inks deal with semiconductor group as part of new strategy

Seeing Machines Limited (LON:SEE) said it has signed a memorandum of understanding (MOU) with a global semiconductor company as formal terms of engagement are finalised to license its Occula Neural Processing Unit.

The AIM-listed firm, which specialises in artificial intelligence (AI) powered operator monitoring systems, said the collaboration represented the third pillar of its recently announced embedded product strategy, which will see the company make Occula available for licensing as an application-specific integrated circuit (ASIC) to semiconductor companies for integration with any automotive computing platform.

READ: Seeing Machines’ new Occula unit a step change in DMS technology, says Cenkos

Occula is an accelerator designed for integration into ARM-based systems-on-chip to enhance the company’s software and to support “ultra low-power human face, eye and body tracking”. The company said licensing Occula to third party semiconductor companies will create additional pathways to automotive customers offering driver monitoring system technology on a range of hardware.

“Licensing our unique IP in this way allows us to distribute our technology through major auto and technology suppliers onto complementary platforms”, Seeing Machines chief executive Paul McGlone said in a statement.

“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 [original equipment manufacturers] and Tier 1 customers", he added.

Quick facts: Seeing Machines Ltd.

Price: 4.65 GBX

AIM:SEE
Market: AIM
Market Cap: £156.48 m
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