MOUNTAIN VIEW, Calif., Sept.
14, 2015 /PRNewswire/ -- Seeing Machines (AIM: SEE), the
AIM-listed company with a focus on operator monitoring and
intervention sensing technologies and services, is pleased to
announce that it has signed a global product development, licensing
and distribution agreement with Caterpillar Inc., as the final
phase of the alliance between the two companies announced in
May 2013. Under this new agreement,
Caterpillar will take over responsibility for manufacturing,
marketing and sales of Seeing Machines' existing DSS rugged
off-road product. In addition, Seeing Machines and
Caterpillar will work together to develop new innovative products.
Caterpillar will market DSS and Seeing Machines Fleet products for
in-cab operator fatigue and distraction monitoring solutions in the
agreed Caterpillar industries. Finally, Caterpillar will also
have distribution rights for Seeing Machines Fleet product,
exclusive within agreed Caterpillar industries and nonexclusive
outside these industries.
Global Agreement
Seeing Machines' DSS rugged
off-road product, under license to Caterpillar, will be available
exclusively through Cat® Dealers across Caterpillar's
broader industries; including mining, construction, quarry,
aggregates, cement, and forestry.
Caterpillar will pay Seeing Machines US$17.5M over four years as well as royalty fees
for DSS hardware, software licensing, monitoring and analytics
services. Caterpillar will also purchase existing inventory of DSS
units from Seeing Machines. Current DSS customer agreements
will be transitioned to Caterpillar and supported by Caterpillar
dealers. Additional consulting services, system monitoring
and data analysis will be offered by Caterpillar Safety
Services.
Seeing Machines CEO, Ken Kroeger
said: "This is a pivotal moment in the history of Seeing Machines;
the realisation of several years of hard work for both companies.
Caterpillar is capable of maximising the return on the DSS
technology; their reputation, reach, capability and commitment will
deliver great outcomes for both companies and for the world's
mining and construction related companies."
Seeing Machines Fleet Distribution Rights
In addition
to the rugged off-road DSS product, Caterpillar will also
distribute Seeing Machines' Fleet product, exclusively within
agreed Caterpillar industries and nonexclusive outside these
industries. Seeing Machines and its other distribution
partners will continue to market and sell the Fleet product into
the broader commercial road transport market.
Transition of CAT Alliance
In May 2013, following early commercialisation
activities and years of intensive development of the DSS and DSSi
product suite, Seeing Machines and Caterpillar Global Mining
entered into a four-phased alliance agreement to deliver and
support DSS operator fatigue monitoring technology through global
Cat® Dealers. In parallel with this agreement
Seeing Machines will continue to work with Caterpillar's wholly
owned subsidiary, Electro Motive Diesel, to assess and develop
operator monitoring technology solutions for the rail industry,
under the alliance agreement with EMD announced in September
2014.
About Seeing Machines
Seeing Machines, (AIM: SEE) is
focused on operator monitoring and intervention sensing
technologies and services. With more than 15 years of experience,
Seeing Machines uses advanced detection and prevention safety
assistance technologies to track eye and facial movement in order
to monitor fatigue, drowsiness and distraction events, such as
microsleeps, texting and cell phone use as they occur, while
providing for a real-time intervention strategy, which improves
operator, driver and environmental safety, preserves assets, and
reduces risk. Seeing Machines' technology is used worldwide across
the automotive, mining, transport and aviation industries; as well
as many of the leading academic research groups and transportation
authorities. Seeing Machines is headquartered in Australia and has offices in Tucson, Arizona, Mountain View, California and Santiago, Chile. The Company has strategic
alliances or supply agreements with Caterpillar, Electro Motive
Diesel, Boeing, Takata, SEMCo and Eye Tracking Inc.
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SOURCE Seeing Machines