REG - Seeing Machines Ltd - New Tier One contract takes OEM customers to 10

Seeing MachinesAnnouncement

06/06/2022 07:30

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RNS Number : 7952N  Seeing Machines Limited  06 June 2022

This announcement contains inside information

 

Seeing Machines Limited ("Seeing Machines" or the "Company")

 

 

6 June 2022

 

New Tier 1 customer appoints Seeing Machines for an additional European
Automaker

 

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, has been appointed by a new
global automotive Tier-1 customer to deliver its FOVIO Driver Monitoring
System (DMS) for a new European Automaker (OEM).

 

The program has been awarded with certain minimum volume guarantees, covering
a number of vehicle models with start of production scheduled from early 2024
and an initial value of A$27 million, bringing the total number of OEM
customers to 10. The program will be delivered via Company's embedded Driver
Monitoring Engine (FOVIO e-DME software library), pre-integrated and optimised
for Qualcomm's 3(rd) generation Snapdragon(®) Cockpit Platforms.

 

Seeing Machines continues to grow as an automotive technology leader in Driver
and Occupant Monitoring Systems, having now won a total of 13 automotive
programs spanning 10 individual OEMs, covering more than 110 distinct vehicle
models. Delivered with an increasingly rich mix of proven global automotive
Tier-1 customers and partners, the cumulative initial lifetime value of all
Seeing Machines won automotive OEM programs stands at A$372 million.

 

Nick DiFiore, SVP and GM Automotive commented:

 

"Building on our recent momentum in Europe, this win is further affirmation of
our strategy and ability to build share globally across the full range of the
DMS/OMS market. Spanning regulatory driven content through the most advanced
feature rich interior monitoring systems in the world, our technology now
meets the needs of value-oriented OEMS through to the technology leaders.

 

"It is also important to note that in terms of market position, we are
achieving this with an increasing Tier-1 partner base who are committed to
Seeing Machines technology and the interior sensing market."

 

Enquiries:

 

 Seeing Machines Limited                     +61 2 6103 4700
 Paul McGlone - CEO

 Sophie Nicoll - Corporate Communications

 Stifel Nicolaus Europe Limited (Nominated Adviser and Broker)                +44 20 7710 7600
 Alex Price

 Nick Adams

 Ross Poulley

 Lionsgate Communications (Media Enquiries)  +44 7791 892509

 Jonathan Charles

The person responsible for this announcement is Paul McGlone.

 

About Seeing Machines (AIM: SEE), a global company founded in 2000 and
headquartered in Australia, is an industry leader in vision-based monitoring
technology that enable machines to see, understand and assist people. Seeing
Machines' technology portfolio of AI algorithms, embedded processing and
optics, power products that need to deliver reliable real-time understanding
of vehicle operators. The technology spans the critical measurement of where a
driver is looking, through to classification of their cognitive state as it
applies to accident risk. Reliable "driver state" measurement is the end-goal
of Driver Monitoring Systems (DMS) technology. Seeing Machines develops DMS
technology to drive safety for Automotive, Commercial Fleet, Off-road and
Aviation. The company has offices in Australia, USA, Europe and Asia, and
supplies technology solutions and services to industry leaders in each market
vertical.

 

www.seeingmachines.com (http://www.seeingmachines.com)

 

Snapdragon is a trademark or registered trademark of Qualcomm Incorporated.

Snapdragon Automotive Cockpit Platforms are products of Qualcomm Technologies,
Inc. and/or its subsidiaries.

 

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