Eye-Net Mobile Successfully Completes Initial Integration with the Assistance of a Leading Israeli Cellular Provider
07 January 2019 - 6:00PM
Business Wire
Foresight’s cellular-based V2X accident
prevention solution was installed on the cellular provider’s data
center
Foresight Autonomous Holdings Ltd. (NASDAQ and TASE: FRSX), an
innovator in automotive vision systems and V2X (vehicle to
everything) cellular-based solutions, announced today that its
wholly owned subsidiary Eye-Net Mobile Ltd. has successfully
completed initial integration by installing the Eye-Net™
application’s communication layer on the data center of a leading
Israeli cellular provider. Eye-Net™ is a V2X cellular-based
accident prevention solution, designed to provide pre-collision
alerts in real time to pedestrians and vehicles by using
smartphones and relying on existing cellular networks.
The activity with the cellular provider which also included
technological know-how and assistance in engineering design may
improve Eye-Net’s efficiency, allowing phone subscribers who
register for the application service to receive more accurate
alerts. Such improvement will be most significant when the Eye-Net™
application will be deployed on a large number of mobile
phones.
“We were pleased to have the opportunity to collaborate with a
leading Israeli cellular provider,” said Haim Siboni, CEO of
Foresight. “This strategic alliance marks an important milestone in
Eye-Net’s roadmap. We expect to expand Eye-Net’s market penetration
by extending collaboration with the leading cellular provider in
future development milestones.”
For more information about Foresight and its wholly owned
subsidiary, Foresight Automotive, please visit
www.foresightauto.com, follow @ForesightAuto on Twitter, or join
Foresight Automotive on LinkedIn.
About Foresight
Foresight Autonomous Holdings Ltd. (NASDAQ and TASE: FRSX),
founded in 2015, is a technology company engaged in the design,
development and commercialization of stereo/quad-camera vision
systems and V2X cellular-based solutions for the automotive
industry. Foresight’s vision systems are based on 3D video
analysis, advanced algorithms for image processing and sensor
fusion. The company, through its wholly owned subsidiary Foresight
Automotive Ltd., develops advanced systems for accident prevention
which are designed to provide real-time information about the
vehicle's surroundings while in motion. The systems are designed to
improve driving safety by enabling highly accurate and reliable
threat detection while ensuring the lowest rates of false alerts.
The company’s systems are targeting the Advanced Driver Assistance
Systems (ADAS), semi-autonomous and autonomous vehicle markets. The
company estimates that its systems will revolutionize automotive
safety by providing an automotive-grade, cost-effective platform
and advanced technology.
Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995 and other Federal
securities laws. Words such as "expects," "anticipates," "intends,"
"plans," "believes," "seeks," "estimates" and similar expressions
or variations of such words are intended to identify
forward-looking statements. For example, Foresight is using
forward-looking statements in this press release when it discusses
the benefit of its products, that it expects to expand Eye-Net’s
market penetration by extending collaboration with the leading
cellular provider in future development milestones, and when it
discusses the merger with Tamda. Because such statements deal with
future events and are based on Foresight’s current expectations,
they are subject to various risks and uncertainties and actual
results, performance or achievements of Foresight could differ
materially from those described in or implied by the statements in
this press release.
The forward-looking statements contained or implied in this
press release are subject to other risks and uncertainties,
including those discussed under the heading "Risk Factors" in
Foresight's annual report on Form 20-F filed with the Securities
and Exchange Commission ("SEC") on March 27, 2018, and in any
subsequent filings with the SEC. Except as otherwise required by
law, Foresight undertakes no obligation to publicly release any
revisions to these forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events. References and links to websites have been
provided as a convenience, and the information contained on such
websites is not incorporated by reference into this press release.
Foresight is not responsible for the contents of third party
websites.
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