Flash note: Formalising a relationship with Samsung
Seeing Machines (SM) has signed an MOU with Samsung Electro-Mechanics Corporation (SEMCo) to jointly development face and eye tracking technology for the consumer electronics industry. Having worked with SM for nearly two years, SEMCo says it regards SM’s eye-tracking algorithms as industry best. The signing of the MOU takes the relationship to the next stage, enabling the partners to examine commercial opportunities for SM’s IP across Samsung’s entire range of products. However, there is no royalty/licencing arrangement at this stage while costs have already been allocated as part of the new business plan. Hence we are maintaining all our forecasts. Nevertheless, today’s agreement is another strong endorsement of SM’s IP, following the agreements with Caterpillar in May 2013 and Takata last week.Seeing Machines is engaged in developing, selling and licensing products, services and technology to detect and manage driver fatigue and distraction; developing driver-monitoring technology to be incorporated into passenger cars; entering commercial agreements with partners for the development, manufacturing and sale of products into key target markets; and research and development of Co.'s core vision processing technologies to support the development and refinement of Co.'s products.
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