6th Jan 2021 10:48
(Alliance News) - Seeing Machines Ltd on Wednesday announced it has signed an agreement with California, US-based advanced imaging solutions company OmniVision Technologies Inc to license its Occula Neural Processing Unit.
Shares in Seeing Machines were up 8.2% at 7.41 pence in London in morning trading.
The computer vision technology company headquartered in London had previously agreed on a memorandum of understanding for the licence agreement, which represents the first execution of the silicon license of its Occula product, that enables "the development of low-cost, high-performance edge Artificial Intelligence to power future human-machine interfaces."
Chief Executive Paul McGlone said: "Seeing Machines has had a wonderful working relationship with OmniVision for over 5 years now, having successfully worked together on multiple automotive programs with a number of Tier 1 customers. This agreement represents a natural next step for our two companies, to work strategically together to achieve the highest possible coupling between the imaging and processing domains."
Seeing Machines said it is now "expanding its embedded product offerings, and extending its low-cost high performance embedded driver and occupant monitoring solutions know-how into the automotive occupant monitoring system market."
By Zoe Wickens; [email protected]
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