Seeing Machines Limited Automotive Update

TIDMSEE

Seeing Machines Limited

29 June 2017

Seeing Machines Limited

("Seeing Machines" or "the Company")

Seeing Machines Builds Foundations for Automotive Business Growth

29 June 2017

Seeing Machines (AIM: SEE), an industry leader in computer vision based human sensing technologies which enable breakthrough solutions in performance, safety and user experiences, is pleased to provide an update on its Automotive business development and recent key appointments.

In light of the recent announcements by Takata Corporation, noting that they have filed for bankruptcy in the USA and Japan and agreed an asset sale transaction with Key Safety Systems Inc, Seeing Machines would like to confirm that this is not expected to have any adverse impact on its Automotive business. Seeing Machines now works with Takata as a Tier 1 partner, on a non-exclusive basis, to develop and deliver Driver Monitoring Systems (DMS) to its Automotive OEM customers.

The Company remains on track with Takata to deliver breakthrough "hands-free" semi-autonomous OEM vehicles this year and continues to work with Takata (or successor) to develop new programs together. Meanwhile Seeing Machines is working with a broad and expanding range of other Tier 1 partners to meet OEM demand for its market leading DMS technology with its Fovio platform and processor.

Further to Mike McAuliffe's appointment as CEO, Seeing Machines is also pleased to announce the promotion of Nick DiFiore as General Manager, Automotive from his previous role as VP Sales and Marketing. Nick was instrumental in building the Automotive business at Xilinx to a $150m business and prior to that, held senior engineering management roles at Ford and Visteon. Other recent key additions to the Automotive management team include Kevin Tanaka as Senior Director of Marketing who was previously Director of Marketing for Xilinx Automotive and Daniel Edmonds as VP of Engineering from his previous role as R&D GM at Continental Australia.

Seeing Machines CEO Mike McAuliffe commented: "We are delighted to have Nick now lead our Automotive business and to have also added Kevin and Danny to the management team. These appointments really bring deep experience and expertise in Automotive Semiconductors, Software and Systems to the company as we continue to build strong foundations for our exciting Automotive DMS business opportunity."

Nick DiFiore commented: "We are excited by the rapidly growing OEM interest in DMS, our depth of collaboration on customer development programs, and the acceleration toward production implementations driven by the adoption of Advanced Driver Assistance Systems and Semi-Autonomous driving technology. Our team is well-positioned to maximize these opportunities globally and we look forward to working with our expanding range of OEM and Tier 1 customers to make this happen."

Enquiries:

 
  Seeing Machines Limited           www.seeingmachines.com 
                                     / [phone] 
 
  Mike McAuliffe, CEO               [e-mail] 
  Media enquiries                   [e-mail] 
  finnCap Ltd 
  Ed Frisby / Emily Watts, 
   Corporate Finance                [phone] 
  Tim Redfern / Richard 
   Chambers, Corporate Broking 
 
  Canaccord Genuity Limited 
 
  Simon Bridges                     [phone] 
  Alexander Napier 
 
 

About Seeing Machines

Seeing Machines, (AIM: SEE) is an industry leader in computer vision based human sensing technologies which enable breakthrough solutions in performance, safety and user experiences. With more than 15 years of R&D investment and proven industry experience, Seeing Machines uses its proprietary computer vision platform to deliver precision tracking and analysis of heads, faces and eyes. A primary application is Automotive Driver Monitoring Systems (DMS) to detect and help deal with drowsiness, distraction and other cognitive states which is key to the adoption of ADAS / Autonomous Driving Technology as well as our pioneering Guardian Fleet safety product. A further application is real-time delivery of precision eye tracking in real world conditions, such as normalising for all vehicular light conditions, which is required for next generation HMI (human machine interface) systems. The Company delivers its Machine Learning Vision platform in a range of solutions from embedded software to Fovio processors to systems such as the Guardian Fleet product. This combines an in-cabin safety intervention system with telematics monitoring services, which prevents accidents and saves costs and lives. Seeing Machines' technology has been adopted by global industry leaders across the market spectrum. Seeing Machines is headquartered in Canberra, Australia and currently has offices and people in Melbourne, Tucson, Silicon Valley, Detroit and the UK.

This information is provided by RNS

The company news service from the London Stock Exchange

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June 29, 2017 02:01 ET (06:01 GMT)