Expanded Alliance Agreement with Caterpillar

RNS Number : 8429G

Seeing Machines Limited

09 March 2015

 

Seeing Machines Limited

Expanded agreement with Caterpillar

9 March 2015

Seeing Machines (AIM: SEE), the AIM-listed technology company with a focus on operator monitoring and intervention technologies and services, is pleased to announce that it has signed a marketing and licence agreement with Caterpillar Inc., under which Caterpillar Safety Solutions will provide 24/7 monitoring and analytical services to their global customers using Seeing Machines' DSS^TM products. 

With key global Cat® dealers now marketing, selling and supporting Seeing Machines' DSS Mining^TM product and support services, Seeing Machines and Caterpillar have formally entered the next phase of a four-phase global alliance agreement.

Caterpillar Safety Solutions (CSS), in tandem with global Cat dealers and Seeing Machines, will offer customers a unique, end-to-end fatigue risk management solution. The integrated solution combines technical consulting and change management services with a powerful technology suite that incorporates Seeing Machines' DSS in-vehicle protection and 24-hour DSSi operator monitoring service provided through Caterpillar's Condition Monitoring Centres.

Under license, Caterpillar data analysts will use DSSi to remotely monitor DSS equipped fleets around the clock in real time, analyse operator and system performance to help prevent incidents, identify risk trends and provide line of sight to a host of factors that influence not only safety, but also operational efficiency and vehicle performance and health.

Where the first phase of the Seeing Machines and Caterpillar global alliance focuses on the mining sector, this new offering is available across Caterpillar's broader industries, including construction, aggregate and quarry and forestry, and will be accessible through Caterpillar's global dealer network.

Seeing Machines' CEO, Ken Kroeger, said:

"The formalisation of this phase of the alliance agreement brings Seeing Machines one step closer to making our DSS intellectual property available as both a Caterpillar aftermarket product and as original equipment in a range of new Cat machines. I strongly believe that what we have achieved together with Caterpillar Safety Solutions and Caterpillar Global Mining gives Caterpillar the full ability to provide its customers with the tools, resources and knowledge to develop a sustainable culture of safety excellence.  Having an organisation with the resources of Caterpillar provide ongoing support gives our DSS customers access to a broader range of safety solutions, gives us access to markets we couldn't otherwise reach and continues to diversify our revenue streams."

Enquiries:

Seeing Machines Limited	www.seeingmachines.com
Ken Kroeger, Managing Director and CEO	[phone] [e-mail]
James Walker, Finance Director	[phone] [e-mail]
finnCap Ltd, Broker for Seeing Machines
Ed Frisby / Christopher Raggett Corporate Finance	[phone]
Victoria Bates, Corporate Broking
Newgate, Investment Communications for Seeing Machines
Robyn McConnachie Tim Thompson	Tel: [phone] / Mob: [phone] [e-mail] Tel: [phone] / Mob: [phone] [e-mail]

About Seeing Machines

Seeing Machines, (AIM: SEE), is an AIM-listed technology company that specialises in operator monitoring and intervention technologies and services. Its software and engineering services are used in products and applications that range from devices that improve driver safety and save lives to assessing trainees in simulators and simplifying the relationships between people and technology. Seeing Machines technology is used worldwide across the automotive, mining, transport and aviation industries; as well as many of the leading academic research groups and transportation authorities. Seeing Machines is headquartered in Australia, and has offices in Tucson, Mountain View, and Santiago. The Company counts Caterpillar, Takata, Eye Tracking Inc and Samsung Electro-Mechanics (SEMCo) as its partners and BHP Billiton, Freeport McMoran, Teck and Toll Holdings amongst its customers.

About Caterpillar

For 90 years, Caterpillar Inc. has been making sustainable progress possible and driving positive change on every continent. Customers turn to Caterpillar to help them develop infrastructure, energy and natural resource assets. With 2014 sales and revenues of $55.184 billion, Caterpillar is the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. The company principally operates through its three product segments - Construction Industries, Resource Industries and Energy & Transportation - and also provides financing and related services through its Financial Products segment.

 

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