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4.645 -0.055 (-1.17%)

Bid:

4.555

Ask:

4.625

Spread: 0.07 (1.537%)

Market Cap: £222.94m

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Seeing Machines Wins Expanded Programme With Existing Customer

Mon, 02nd Sep 2019 14:29

(Alliance News) - Seeing Machines Ltd on Monday announced it had been awarded an expanded programme for its FOVIO driver monitoring platform.

Seeing Machines was chosen to deliver its FOVIO platform "into a new generation architecture addressing additional car models for an existing European original equipment manufacturer customer".

The computer vision technology firm said production of the new car models it set to start from 2022 and incremental revenue is to be more than AUD23 million, around USD15.4 million.

The FOVIO platform is used to assess a driver and determine "driver attention state, focus, drowsiness and impairment levels". This is intended to improve safety.

Nick DiFiore, senior vice president & general manager of Automotive at Seeing Machines said: "We are delighted to be expanding our footprint with an existing OEM customer as we demonstrate our versatility in adapting to their diverse integration needs across vehicle models. We are also excited to be working with a new Tier 1 supplier as we further grow our automotive supply chain relationships."

Shares in Seeing Machines were down 0.5% at 4.02 pence in London on Monday afternoon.