Automotive License Deal
Seeing Machines has announced a pre-production license deal with a major Automotive Tier 1 partner. This has been entered into under the terms of a pre-exisiting non-exclusive Collaboration Agreement (the “Agreement”) to provide Seeing Machine’s Driver Monitoring System (DMS) technology for an ongoing Automotive program. Seeing Machines will receive a USD$15million pre-produced fee.
Paul McGlone, CEO of Seeing Machines, explained “This approach to doing business is key to long-term sustainability and appropriate management of our balance sheet especially in businesses where revenue tends to be longtail in nature.”
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