Seeing Machines partners with TK Holdings

1st Sep 2014 10:47

Technology company Seeing Machines announced a 15-year strategic alliance with TK Holdings, the US subsidiary of its existing partner, Takata.The two companies have been working together for the past two years developing driver monitoring technology and will now pursue potential product opportunities from global automotive manufacturers.Takata has secured its first mass-manufactured implementation of a driver-monitoring system, which will reduce the risk of car accidents by alerting drivers of lapses in attention while driving.Chief executive Ken Kroeger said: "Eye and head tracking technology is the next step in automotive safety, which we expect to play a significant role in the reduction of one of the greatest causes of accidents: driver distraction. "We strongly believe that the addition of driver monitoring to advanced driver safety systems will deliver a significant improvement to the safety of drivers, passengers and pedestrians."Finncap analysts said: "In our forecasts, we had assumed that this was the approach the company was taking to opening up the huge automotive market, so we are not making changes at this stage; however, we now have the added security of knowing the partner and seeing the first mass production order commencing."Seeing Machines saw its shares go up 23.08% to 6p on Monday at 10:34.JF