Flash note: New deal with Caterpillar
Seeing Machines (SM) has signed a new agreement with Caterpillar (NYSE.CAT) that covers product development, manufacturing, licensing and distribution. The deal supersedes the previous four-phase agreement that SM signed with Caterpillar Global Mining in May 2013. It involves a US$17.5m fee paid over four years, along with ongoing royalties on product sales and services. The deal strengthens the group’s relationship with the US blue chip construction equipment maker, expanding the partnership into product development and across new sectors, including rail. We will review our forecasts following the final results in late August.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.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.