Business
Major contract gain
Major contract gain.
About this update from Seeing Machines Limited
[{"type":"text","content":"\n Seeing Machines Limited\n04 March 2008\n\n\n4 March 2008\n\n Seeing Machines Limited\n ('Seeing Machines' or the 'Company')\n\n MULTI-MILLION DOLLAR LICENSE AGREEMENT SIGNED FOR DRIVER MONITORING TECHNOLOGY\n\n\nSeeing Machines (AIM: SEE), a leading developer of advanced computer based\nimaging software systems, announces that it has signed a long-term multi-million\ndollar enterprise license agreement with Dycom Industries Inc (NYSE: DY) \n('Dycom'), for the use of Seeing Machines' driver monitoring technology.\n\n\nThe agreement includes:\n\n\n • an enterprise license for the use of Seeing Machines driver monitoring\n software;\n • long term support and maintenance services;\n • the provision of custom hardware;\n • training and consulting services.\n\n\nThe agreement is set to deliver initial revenue of approximately AUD$2.5 million\n(£1.08m) in this calendar year and will generate significant future revenues\nthrough the ongoing provision of services and hardware.\n\n\nThe companies have also concluded a second agreement that allows for the\ntechnology to be offered to others following the initial deployments.\n\n\n\nDr Nick Cerneaz, CEO of Seeing Machines commented: 'This agreement represents\nthe first major multi system deployment of our driver monitoring technology.\nThe long term vision of this project recognizes the potential to expand the\njoint technology offering created and make it available to others as it is\nfurther developed. This agreement offers a significant step forward in our\nnear-term commercialization efforts, but also represents a serious opportunity\nfor substantial growth in the medium and long term.'\n\n\n\nFurther information about Seeing Machines and the driver monitoring technology\ncan be obtained from the Company web site: www.seeingmachines.com. Further\ninformation about Dycom can be obtained from Dycom's website: www.dycomind.com.\n\n\n\n--- ENDS ---\n\n\nEnquiries:\n\n\nSeeing Machines Limited Grant Thornton Corporate Finance Parkgreen Communications\nNick Cerneaz, CEO Fiona Owen Justine Howarth, Erica Nelson\n+61 (0) 2 6125 6501 +44 (0) 20 7383 5100 +44 (0) 20 7851 7480\nwww.seeingmachines.com\n\n\nNotes to editors:\n\n\n\nAbout Seeing Machines\n\n\n\nSeeing Machines is an award winning Technology Company which focuses on vision\nbased human machine interfaces. Formed in 2000 i...