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Seeing Machines Ltd - computer vision technology company headquartered in London - Signs memorandum of understanding with undisclosed "global semiconductor company," while formal terms of engagement finalised to licence its Occula Neural Processing Unit. Its shares were up 11% on Tuesday.
Chief Executive Paul McGlone: "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."
Current stock price: 4.05 pence
Year-to-date change: down 18%
By Anna Farley; annafarley@alliancenews.com
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