Proactive Investors - Run By Investors For Investors

Seeing Machines wins four commercial fleet contracts in New Zealand

“We have worked closely with our distribution partners to revise commercial terms and focus on accelerated installations of Guardian around the world.”
driver
Guardian tracks eye movements and other driver actions to prevent driver fatigue and distraction-related events

Seeing Machines Ltd’s (LON:SEE) has seen improving commercial momentum for its Guardian driver-monitoring technology after changing distributor terms, leading to four new fleet contract wins in New Zealand.

Based on the new terms, AutoSense, the AIM-listed company’s master distributor for New Zealand, intends to treble its current installed base by the end of 2019.

READ: Seeing Machines wins contract with major North American self-driving car company

The four new contracts cover a total of more than 1,400 units, with the largest being New Zealand-listed TIL Logistics Group along with three local transport operators.

AutoSense boss Charles Dawson said signing such deals “signifies the maturing of our transport industry as they increasingly take driver training and road safety seriously”.

Guardian, which employs AI to track eye movements and other driver actions to prevent driver fatigue and distraction-related events in real time, has been proven to reduce fatigue events by more than 90%. Seeing Machines also provides technology to monitor backup drivers in self-driving cars.

Paul McGlone, who has stepped in as chief executive at Seeing Machines as part of an ongoing restructuring, added: “We have worked closely with our distribution partners to revise commercial terms and focus on accelerated installations of Guardian around the world.

“AutoSense is a great example of that work and we are very happy to see this growth across New Zealand.”

In afternoon trading, shares in Seeing Machines were 0.8% higher at 3.27p.

 -- Adds share price --

View full SEE profile View Profile

Seeing Machines Limited Timeline

Related Articles

Keywords Studio
April 08 2019
Keywords has a buy-and-build strategy and has been expanding rapidly since its first acquisition in 2014.
MRI scanner
March 19 2019
The company invests and helps build companies in the medical and technology sectors, with a target exit valuation of over US$100mln
Irrigation
May 15 2019
The company’s products can be used for wireless and mobile internet applications, while its military hardware encompasses a range of tactical and specialised communications antennas
Copyright © Proactiveinvestors.com, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use