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(Sharecast News) - Computer vision technology company Seeing Machines has advanced its previously-announced memorandum of understanding with OmniVision Technologies, it said on Wednesday, to an executed licence agreement to license its 'Occula' neural processing unit (NPU).
The AIM-traded firm said the agreement represented the first execution of the silicon licence for Seeing Machines' Occula, which it described as a unique NPU design that enabled the development of low-cost, high-performance 'edge' artificial intelligence (AI) to power future human-machine interfaces.
Further to the recently-announced 'three pillar embedded product strategy', where Seeing Machines laid out its strategic approach to meet the technology needs of the global interior monitoring market for automotive, the board said the collaboration would "bring the third pillar to life" as the partners combined the Occula silicon intellectual property with machine vision silicon technology for their customers.
OmniVision develops imaging products for a variety of industrial and consumer markets, including automotive.
It has been delivering imaging products for more than 15 years to automotive customers, offering products and technology which could place a camera anywhere in a vehicle.
OmniVision had a "full portfolio" of image sensors for the interior monitoring market, and was currently the leading supplier of image sensors into the interior monitoring market segment.
"Seeing Machines has had a wonderful working relationship with OmniVision for over five years now, having successfully worked together on multiple automotive programs with a number of tier 1 customers," said chief executive officer Paul McGlone.
"This agreement represents a natural next step for our two companies, to work strategically together to achieve the highest possible coupling between the imaging and processing domains.
"We are thrilled to continue working with OmniVision as both companies combine to continue to deliver excellent price versus performance driver and occupant monitoring solutions to the market."
At 0942 GMT, shares in Seeing Machines were up 9.34% at 7.49p.
8 Nov 2023 14:16
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