The eye tracking and facial recognition specialist Seeing Machines Ltd (LON:SEE) has signed a distribution agreement with an international fleet services company to develop a fatigue and distraction monitor to be used in trucks and buses.
The Seeing Machines Guardian technology would be combined with MiX Telematics’ (JSE: MIX, NYSE: MIXT) software that’s used for vehicle tracking, efficiency and safety.
Under the deal, MiX would also distribute future versions of its platform incorporating Guardian.
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“By combining the best of both solutions, we are confident that we are positioned to deliver an unparalleled commercial and technical offering to the fleet transport industry,” said Paul Angelatos, chief operating officer of the AIM-listed technology firm.
“We not only see it as another vote of confidence in our solution but a genuine path to deliver volume connections and long-term value to our customers and shareholders.
“We are excited that MiX Telematics, an industry leading provider, is engaged with Seeing Machines and look forward to building the relationship for many years to come."
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Guardian is an in-cab system that monitors the alertness of the driver by scanning his or her face.
A variation of the Seeing Machines technology, called the Driver Safety System, has seen growing adoption by the mining industry in giant dump trucks used to transport ore.
Seeing Machines technology is also being developed as part of the next generation of semi-autonomous cars.
MiX, meanwhile, is just the sort of distributor the company has been looking for to provide a global distribution network.
For it offers fleet management services across 120 countries supporting 580,000 vehicles.
Share has further to go, says broker
The shares rose 4% on the back of the announcement to 4.4p. Broker finnCap reckons Seeing Machines is worth 12p a share.
Analyst Lorne Daniel said: “Fatigue and distraction is a huge and growing issue for both private drivers and fleets, particularly with the growing mobile functionality and dependency.
“Telematics is vital for modern fleet management. Yet installing and subscribing for a number of different in-cab systems is difficult for fleet managers.
“Combining telematics and driver monitoring solutions in one device and from one supplier clearly makes sense, reducing cost and complexity.”
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