Seeing Machines Limited Strategic Distributors Appointed for Asia Pacific

TIDMSEE

Seeing Machines Limited

30 September 2016

30 September 2016

Seeing Machines Limited

("Seeing Machines" or the "Company")

Seeing Machines appoints AutoSense as its New Zealand Fleet distributor, and Kiattana Transport as part of a new strategic distribution plan for Asia Pacific valued at

AUD 4.3 million

Seeing Machines (AIM: SEE), the AIM-listed company with a focus on fleet transport safety, operator monitoring and intervention sensing technologies and services, is pleased to confirm that it has appointed publicly traded Thai transport company, Kiattana Transport as its distributor in Thailand; and a leading safety and risk assessment specialist, AutoSense as its distributor in New Zealand.

As Seeing Machines adds new distributors with strategic capability sets in local geographies, distributors like Kiattana and AutoSense are good examples of Guardian fleet product distribution partners with the necessary prerequisites of experience, local relationships and regional capabilities in logistics, commercial fleet safety, insurance and commercial fleet technology engagements. These contracts form part of the Company's new distribution plan for the Asia Pacific region and form part of a wider programme, aimed at delivering local support on a global level.

The combined revenue value for these two contracts, including the initial wholesale hardware provision and for the contracted Safety as a Service revenue are estimated to be AUD 4.3m across the initial 36-month mandatory subscription period. However, based on current telematics industry statistics, on average contracts extend out to seven years, which suggests there is potential for contract period extensions and therefore higher contract lifetime value.

Considering the dependency of road-going transport in the distributors' respective regions, these relationships are expected to contribute significantly to Seeing Machines' monthly recurring revenue streams attributable to Guardian Safety as a Service sales, as the distributors deliver more customers.

Kiattana Transport will set up a new company KGP Company Limited with an upfront commitment to purchase 1,000 units from Seeing Machines. Wholly owned by Kiattana Transport, the first deployment will take place in 500 of its own trucks.

AutoSense has strong ties to the New Zealand transport industry and has made an upfront commitment to purchase 500 Guardian units from Seeing Machines. This upfront hardware commitment ensures adequate stock is available to facilitate conversion of the current Guardian assessments underway in New Zealand. With a strong focus on driver safety and simulator training, Guardian is a good fit for the AutoSense client base that routinely does risk assessment, behind the wheel training and specialized driver performance and assessment programs.

Mr. Keerin Chutumstid, M.D., Kiattana Transport, commented: "We are excited by the possibilities provided by our distribution partnership with Seeing Machines. Guardian is a revolutionary new approach to road safety in logistics here in Thailand. As part of Kiattana's vision, mission and quality policy we are committed to safety and prevention of accidents and the launch of new products like Guardian mean we can offer our customers and the wider logistics industry new innovative solutions that raise the safety standard and save lives."

Charles Dawson, CEO of AutoSense commented: "Guardian is all about taking fatigue and distraction seriously and making drivers and companies aware of the dangers of fatigued driving. The innovative new technology brings a fresh new holistic approach, with Seeing Machines' Guardian System and SafeGuard Program working together to mitigate risk and inform both drivers and operations teams when things don't go according to plan."

Ken Kroeger, CEO of Seeing Machines, commented: "Value Added Resellers such as these are a key component of our global marketing strategy and the growing distribution network is the next step in the establishment of our Guardian brand and business. Well established local resellers who are closely aligned with a safety centric culture give Seeing Machines a quicker and low capital intensive route to market while shortening the sales cycle, providing us with better access to end users as well as enhancing our service and support capabilities whenever and wherever we connect a Guardian system."

Enquiries:

 
 Seeing Machines Limited     www.seeingmachines.com / 
                              [phone] 
 Ken Kroeger, Managing       [e-mail] 
  Director and CEO 
 Media inquiries             [e-mail] 
 finnCap Ltd, Broker for Seeing Machines 
 Ed Frisby / Emily Watts, 
  Corporate Finance          [phone] 
 Joanna Scott, Corporate 
  Broking 
 Newgate, Investment Communications for Seeing Machines 
 Bob Huxford                  Tel: [phone] / 
                               Mob: [phone] 
  Adam Lloyd                   [e-mail] 
 
                               Tel: [phone] / Mob: 
                               [phone] 
                               [e-mail] 
 

About Seeing Machines

Seeing Machines, (AIM: SEE) is focused on operator monitoring and intervention sensing technologies and services. With more than 15 years of experience, Seeing Machines uses advanced detection and prevention safety assistance technologies to track eye and facial movement in order to monitor fatigue, drowsiness and distraction events, such as microsleeps, texting and cell phone use as they occur, while providing for a real-time intervention strategy, which improves operator, driver and environmental safety, preserves assets, and reduces risk. Seeing Machines' technology is used worldwide across the automotive, mining, transport and aviation industries; as well as many of the leading academic research groups and transportation authorities. Seeing Machines is headquartered in Australia and has offices in Tucson, Arizona and Mountain View, California. The Company counts Caterpillar, Electro Motive Diesel, Progress Rail, Boeing, Takata, SEMCo, and Eye Tracking Inc among its partners.

About AutoSense

Founded in 2010, AutoSense's mission is to provide drivers at all levels with the skills to become safer and overall better drivers. AutoSense offers specialized training and consultancy services to the commercial fleet market throughout New Zealand.

About Kiattana Transport

Kiattana Transport Public Company Limited is a leading provider of integrated logistics services for dangerous goods including chemicals, petroleum and specialty products that require specialized handling expertise. We maintain our fleet to the highest standards ensuring we can deliver products safely and on time, every time. Our country-wide presence and a fleet of over 400 trucks is a testament to our commitment in providing a first class and reliable service to all our valued clients. With over 20 years of experience, we have learned that the heart of our success lies not only in the investment of high quality trucks and high-tech equipment, but in our continuous dedication to instil the sense of safety and responsibility in our drivers. All of our professionally qualified drivers are proudly devoted to retain and add more to our growing collection of Safety Awards from our clients.

This information is provided by RNS

The company news service from the London Stock Exchange

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September 30, 2016 02:02 ET (06:02 GMT)