Share Name Share Symbol Market Type Share ISIN Share Description
Seeing Machines Limited LSE:SEE London Ordinary Share AU0000XINAJ0 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.05p -1.40% 3.525p 3.50p 3.55p 3.575p 3.475p 3.575p 4,138,475 12:32:39
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Technology Hardware & Equipment 17.2 -20.2 -1.2 - 81.00

Seeing Machines Limited Self-driving car company signs Guardian BdMS deal

10/06/2019 7:00am

UK Regulatory (RNS & others)


Seeing Machines (LSE:SEE)
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2 Months : From May 2019 to Jul 2019

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RNS Number : 5582B

Seeing Machines Limited

10 June 2019

10 June 2019

Seeing Machines Limited

Self-driving car company signs Guardian BdMS deal

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, announces it has signed an agreement to supply its Guardian Backup-driver Monitoring System ("BdMS") to a leading North American self-driving car company.

Based on an initial purchase of A$2.2M, Guardian BdMS is expected to be installed into a significant portion of the self-driving car company's fleet over the coming months, with an option for follow-on purchases under the agreement.

Guardian BdMS leverages Seeing Machines' automotive-grade FOVIO driver monitoring technology in a convenient retrofit system for semi- and fully-automated vehicles. It is designed to help the backup-driver in an autonomous driving vehicle stay alert, aware and ready to take control of the driving task whenever necessary, as well as help the autonomous vehicle fleet owner to monitor and evaluate backup-driver performance.

Nick DiFiore, SVP and GM of Automotive at Seeing Machines commented: "It has been gratifying for the Seeing Machines team to work with a sophisticated customer who shares our passion for road safety, and we are delighted to see our technology used to achieve the safer development and testing of autonomous vehicle technology on our public roads".

Enquiries:

 
                                                        +61 2 6103 
 Seeing Machines Limited www.seeingmachines.com               4700 
 Paul McGlone - Acting CEO 
  Sophie Nicoll - VP, Marketing & Communications 
 
 Cenkos Securities plc (Nominated Adviser and Joint 
  Broker)                                              +44 131 220 
  Neil McDonald/Beth McKiernan/Pete Lynch                     6939 
 
 
 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

About Seeing Machines - www.seeingmachines.com

Seeing Machines (LSE: SEE), a global company headquartered in Australia, is an industry leader in computer vision technologies which enable machines to see, understand and assist people. The Company's machine learning vision platform has the know-how to deliver real-time identification and understanding of drivers through Artificial Intelligence (AI) analysis of heads, faces and eyes. This insight enables Driver Monitoring Systems (DMS), which monitor driver/operator identification and attention and can detect drowsiness and distraction across multiple transport sectors.

Seeing Machines develops DMS for the Automotive, Commercial Fleet, Aviation, Rail and Off-Road markets. The Company has offices in Australia, USA, Europe and Asia, and delivers multi-platform solutions to industry leaders in each vertical.

DMS is becoming a core safety technology integrated into ADAS offerings for the automotive industry, particularly with the development of semi-autonomous and self-driving cars. DMS is also increasingly seen to be an integral safety feature across the Commercial Transport & Logistics industry and is set to be become a regulatory requirement for all cars, vans, trucks and buses in Europe from 2022, with the rest of the world expected to follow soon after.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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June 10, 2019 02:00 ET (06:00 GMT)

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