New Contract

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 

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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.