SerVision plc New Contract (3109L)
18 July 2017 - 4:00PM
UK Regulatory
TIDMSEV
RNS Number : 3109L
SerVision plc
18 July 2017
The information contained within this announcement is deemed by
the Group to constitute inside information as stipulated under the
Market Abuse Regulations (EU) No. 596/2014 ("MAR").
18 July 2017
SerVision PLC
("SerVision" or "the Company")
Contract win with Israeli bus company
SerVision (AIM: SEV), a leader in mobile live video streaming
over wireless and cellular networks has been awarded a tender by
Egged Israel Transport Cooperative Society Ltd ("Egged"), Israel's
largest bus operator, for the supply of 247 IVG400-N units,
including cameras, before the end of 2017. Egged initially placed a
trial order of 75 MVG-400 systems in May 2015 and it is the
Company's recent integration with Mobileye, the world leader in
collision avoidance systems, that has convinced Egged to expand its
relationship with SerVision.
The total order to the Company will be US$247,000 and comprises
two purchase orders from two suppliers of buses to Egged, both
orders now having been received.
SerVision's IVG400-N is a highly professional High Definition
(HD) recording and transmission DVR/NVR which provides HD-quality
recording from mobile IP cameras and live streaming at low bit
rates. The IVG400-N enables fleet operators to remotely monitor
moving assets, drivers, vehicles and vehicle location in real time,
from one centralised location. SerVision's combined solution with
Mobileye, which can also include fleet management integration,
provides buses with a comprehensive safety and security solution
that protects passenger lives.
Gideon Tahan, SerVision's Chairman and CEO, stated, "I am very
pleased with the Company's expanding cooperation with Egged and
with our success in the bus and coach market in general. Our
integration with Mobileye is an important part of our growth
strategy and I am very happy that our combined solution is
beginning to result in new opportunities. We believe that
Mobileye's leading technology for road accident prevention,
together with our state-of-the-art mobile video platform, will be
of great interest to the global bus market."
Lior Sethon, Deputy General Manager of Mobileye Aftermarket
Division, commented, "I am very excited about our cooperation with
SerVision and look forward to providing our integrated solution to
the largest bus operator in Israel. I believe the
Mobileye-SerVision platform will open up further mutual
opportunities in the bus and coach market worldwide."
For more information on Egged, please visit:
http://www.egged.co.il/HomePage.aspx
For more information on Mobileye, please visit:
https://www.mobileye.com
For more information about SerVision's integration with
Mobileye, please visit:
https://www.youtube.com/watch?v=remkw4Cizek
-ends-
For further information:
SerVision plc +972 2535 0000
Gidon Tahan, Chairman and CEO
+44 (0)20 3328
Allenby Capital Limited 5656
Nick Athanas / Richard Short
Leander PR
+44 (0)7795 168
Christian Taylor-Wilkinson 157
Notes to Editors
SerVision Ltd. is a leading technology developer and
manufacturer of fully integrated video-based solutions for road
safety, transport security and remote monitoring applications. The
Company's portfolio includes a multi-functional range of
professional Video Gateways (Digital Video Recorders and Network
Video Recorders with live streaming capabilities) and a variety of
software solutions to enable real time monitoring. SerVision's core
technology - a highly advanced video processing and transmission
protocol - enables on-demand, centralized monitoring of vehicles,
drivers, passengers, assets, and isolated sites from literally
anywhere in the world, at any time.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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