TIDMSEE

RNS Number : 2023O

Seeing Machines Limited

16 May 2018

Seeing Machines Limited

Australian Distributor Expands Guardian Commitment

16 May 2018

Seeing Machines Limited (AIM: SEE) ("Seeing Machines" or the "Company"), an industry leader in computer vision technologies which enable machines to see, understand and assist people, is delighted to announce a significantly extended agreement for a further 2,500 units of the Company's fleet product, Guardian, with Western Australia based distributor, Connect Source. The Guardian units are expected to be sold and installed into the distributor's customers over the coming 18 months, and will include ongoing monitoring services, with an agreed timeframe for all installations to be complete by December 2019.

This commitment is based on the Company's second-generation fleet product Guardian Gen 2, and represents part of the production batch currently being readied for shipment to a range of distributors and customers over the coming weeks and months.

Connect Source has been an Australian wide distributor for Seeing Machines' Guardian for just over twelve months, and in that time, has seen significant success with its customer base, largely located in Western Australia. While the distributor has not signed an exclusive agreement with the Company, the momentum is highly positive and affirms the Company's strategic decision to work closely with more regional distributors globally to advance the sale of Guardian.

Located in Perth, Western Australia, Connect Source provides a comprehensive range of technology, auto-electrical and navigation solutions to its customer base. The company is committed to product excellence and advanced technology solutions and provide high quality products and services to their customers across global industrial, agricultural and mining industries.

Michael Wishart, Managing Director at Connect Source, commented: "It is a privilege to be a part of this journey with Seeing Machines, Guardian is a trusted market leading product which is truly changing the way our business engages with its customers. Our goal is to enhance the safety for more commercial fleets in Australia."

Paul Angelatos, SVP and GM of Fleet, Rail and Off-Road at Seeing Machines, commented: "The commitment of Michael Wishart and his team is very welcome news to us at Seeing Machines. We have made a conscious decision to work more closely with channel partners who are able to leverage the knowledge and relationships with their customers to accelerate sales of Guardian as a safety solution for commercial fleets and transport companies. We are working very closely with Connect Source to provide them every support available to ensure their success in this region."

Enquiries:

 
 Seeing Machines Limited             www.seeingmachines.com 
                                      / +61 2 6103 4700 
 Ken Kroeger, Executive Chairman     Ken.Kroeger@seeingmachines.com 
  & Interim CEO                       Sophie.Nicoll@seeingmachines.com 
  Media inquiries 
 Cenkos Securities plc (Nominated 
  Adviser and Joint Broker)          +44 131 220 6939 
 Neil McDonald 
  Beth McKiernan 
  Pete Lynch 
 
 Canaccord Genuity Limited 
  (Joint Broker)                     +44 20 7523 8000 
 Simon Bridges 
  Richard Andrews 
  Alexander Napier

About Seeing Machines

Seeing Machines (LSE: SEE) is an industry leader in computer vision technologies which enable machines to see, understand and assist people. The Company deploys its FOVIO machine learning vision platform to deliver real-time understanding of drivers through AI analysis of heads, faces and eyes for Driver Monitoring Systems (DMS), which monitor driver attention state including drowsiness and distraction. DMS is increasingly considered a core automotive safety technology as well as an enabling technology for ADAS/Autonomous Driving. The Company's pioneering commercial fleet solution (Guardian) delivers an after-market, in-cabin safety intervention system with 24/7 monitoring and cloud analytics services delivered on a telematics SaaS basis. The Company also serves Aviation, Rail and Off-Road markets, and they are seeking to innovate in new markets. Based in Canberra, Australia with the intention to grow in the USA and Europe, the Company delivers multi-platform solutions from embedded software and processors to aftermarket system and service solutions to industry leaders globally. www.seeingmachines.com.

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCEADSSFEEPEAF

(END) Dow Jones Newswires

May 16, 2018 02:00 ET (06:00 GMT)

Seeing Machines (LSE:SEE)
Historical Stock Chart
From May 2024 to Jun 2024 Click Here for more Seeing Machines Charts.
Seeing Machines (LSE:SEE)
Historical Stock Chart
From Jun 2023 to Jun 2024 Click Here for more Seeing Machines Charts.