Technology

Artificial Intelligence Big Data Cloud Computing Cyber Security Data Management Electronics Enterprise & Network Technology Financial Technology Hardware Mobile & Wireless Nanotechnology Semiconductor Software Telecommunications
News Release Digital Asset Direct

Kramer acquires UC Workspace in strategic move to expand the boundaries of collaboration

Kramer Electronics

Kramer Electronics Ltd. announced today the acquisition of UC Workspace (UCW), a pioneer and leader in unifying collaborative experiences. Uniting UCW’s and Kramer’s technology and product portfolios under one roof creates new and unique opportunities to bring a new level of simplicity, automation and collaboration to Enterprise and Education customers. UCW products facilitate engagement across multiple platforms, providing intuitive ways to communicate, control and collaborate. Its award-winning Quicklaunch software solution enables people and organizations to seamlessly engage across multiple UCC platforms. It is the fastest and most secure and intuitive way to launch and control any meeting regardless of conferencing provider. With its upcoming WEAV content and interaction platform and UCCentral software, which provides unparalleled insight and control of workspaces, devices and apps, UCW innovation is helping organizations boost productivity across multiple dimensions. “This acquisition is the latest step in our journey to reinvent the collaboration experience,” said Gilad Yron, Kramer’s CEO. “It is a power-up in our commitment to creating new ways for people to engage and collaborate more intuitively, simply and inclusively, and with that, to bring more layers of productivity to our customers.” He continued: “Bringing UCW into the Kramer family accelerates our drive to build a market-leading product and R&D organization. It’s a perfect fit with our existing technologies and our innovation plans for the new physical-digital world.” Angela Hlavka, CEO of UC Workspace, said: “Having created the market for unified collaborative experiences, we are thrilled to take UCW technology and partner network to a new scale. This will benefit all our customers, through a broader range of solutions, new technologies and market-leading customer support. We are delighted to join the Kramer family on this exciting journey toward better and more productive collaboration for all.” About Kramer We’re dedicated to delivering better, smarter solutions that enhance physical-digital engagement and collaboration. Kramer solutions are based on our cutting-edge products and technologies for traditional AV, AV over IP, unified communication and collaboration (UCC) and wireless collaboration, and advanced management and control. www.kramerav.com About UCW UC Workspace is a leading global provider of unified collaboration solutions, helping companies move beyond traditional meeting rooms to inspiring workspaces that improve collaboration, sharing, communication and technology integrations. UC Workplace works with multiple meeting providers and are agnostic to applications and hardware. Platinum Partners have optimized customized versions of our flagship Quicklaunch application. www.ucworkspace.com Contact Details Ornit Sade Benkin +972 52-332-7700 osade@kramerav.com Company Website https://www.kramerav.com/

February 01, 2022 12:00 PM Eastern Standard Time

iTradeNetwork Introduces Next-Gen Freight Solution for a Smarter, Faster, Fresher Supply Chain

iTradeNetwork

iTradeNetwork, the industry’s largest perishables network with over 8,000 food and beverage trading partners, proudly announces its next-generation transportation solution Freight —a streamlined way to combat the chaos of the present landscape, improve delivery performance, and maximize margins on every order moving through the supply chain. The pandemic radically altered consumer food spending habits, with an extraordinary rise in e-commerce sales and omni-channel experiences. This demand shock, combined with labor and equipment shocks in the logistics sector, has left fresh suppliers, buyers, and carriers reeling from unprecedented capacity and rate pressures when moving food across the supply chain. For consumers, this has resulted in empty shelves and substitutions. With 33 percent more consumers cooking more at home, pressure on buyers to prevent out-of-stock situations will only grow and companies that plan procurement and freight together have an advantage over those looking at them separately. Meeting demand and maintaining customer loyalty starts with building smarter supply chains and solutions that help businesses make smarter decisions, like iTradeNetwork’s new Freight solution. Freight is designed to help growers, shippers and buyers make the best margin-saving decisions in a chaotic environment by providing complete route planning, cost visibility, load building and load optimization prior to sending a purchase order so logistics can be a part of the overall purchasing decision. Its intuitive look and feel powers a simplified experience that makes decision-making easier, faster and smarter. With Freight: Build more profitable loads: combine purchase orders to optimize loads with automatic recommendations and safeguards to prevent costly product loss, using a best-in-class, intuitive look and feel. Build loads faster: smarter optimization–predictive loads, automatic recommendations for the best carriers, and real-time updates. Maintain constant visibility: leverage Freight’s bird’s eye view of every aspect of a product’s journey. “In today’s environment, Wayne Gretzky’s advice comes to mind: ‘Skate to where the puck is going, not where it has been.’ We believe a lesson companies in the food supply chain can take from the pandemic is that logistics needs to be as proactive and strategic as possible instead of reactive. Our Freight solution moves it in that direction. Built on our industry-leading procurement platform, it simplifies combining purchase orders into loads, recommends optimal loads, and helps procurement and freight planners make the best decisions possible to secure the maximum margin on every purchase order,” said Nathan Romney, chief product officer for iTradeNetwork. To learn more about Freight, visit itradenetwork.com/itradefreight/ or contact sales@itradnetwork.com. ABOUT ITRADENETWORK iTradeNetwork, Inc. (ITN) is the leading global provider of supply chain management solutions for the food and beverage industry. Built upon deep industry expertise, a rich data foundation and the industry’s most extensive trading partner network, iTradeNetwork’s collaborative solutions allow distributors, manufacturers, operators, retailers, suppliers, and wholesalers of all sizes to reduce cost, grow revenue and strengthen trading partner relationships. Today, iTradeNetwork’s growing customer list includes thousands of global companies. For more information, visit: www.itradenetwork.com. Contact Details Landis Communications Inc. Robin Carr +1 415-971-3991 itn@landispr.com Company Website https://www.itradenetwork.com/

February 01, 2022 06:02 AM Pacific Standard Time

Volatus Aerospace to Acquire MVT Geo-Solutions Inc., a Quebec-based Geomatics Service Company

Volatus Aerospace Corp.

Volatus Aerospace Corp. (TSXV: VOL) (“Volatus”) is pleased to announce that it has entered into a definitive agreement to acquire MVT Geo-Solutions Inc. (“MVT”), a Quebec, Canada-based leader in geomatics innovations. MVT’s team of geomatics scientists, engineers, and other professionals combine the technologies and knowledge necessary for the acquisition and processing of various types of data used to study Earth, its phenomena and its resources. Services include data collection, processing, and analysis to a variety of industries including civil engineering, transport, hydrography, natural resource management, forestry, and public safety. MVT had unaudited revenues of C$1.4M in 2021 including geomatics services, equipment sales and training with a net profit margin of 12%. Key Highlights of the Transaction: Expands Volatus footprint in Quebec, one of the largest markets in Canada Increased expertise in geomatics Scalable relationships with some of Canada’s largest companies Established agreements with key equipment manufacturers can be scaled across the Volatus network “Volatus has long seen MVT as the leader in geomatics and drone services in the Quebec market. Adding their capabilities and regional market presence is an important step for Volatus and consistent with our mission to lead consolidation in the markets we serve,” stated Glen Lynch, CEO of Volatus. “Under the continued leadership of its CEO Maude Pelletier, our objective is for MVT to propagate its expertise across Volatus and leverage our scale to expand existing customer relationships from regional to national and international.” “Since its beginning in 2016, MVT has built strong relationships by delivering innovative geomatics services throughout Quebec and Eastern Canada,” said Maude Pelletier. “Joining Volatus provides the resources, scale and market presence to help accelerate MVT’s growth and contribute to the overall capabilities of Volatus.” The total consideration payable in connection with the acquisition of 100% of MVT shares is $1,200,000 CAD, which will consist of: (i) $850,000 CAD paid in cash; and (ii) the balance in common shares of Volatus having a value of $350,000 CAD, calculated based on the last closing price of the Volatus common shares on the TSX Venture Exchange prior to the closing of the acquisition. The acquisition is expected to accelerate growth through MVT’s leverage of the Volatus sales and marketing resources, North American pilot network, and Volatus’ strengths in agriculture, façade inspections, and cargo solutions. Volatus intends to leverage MVT’s geomatics capabilities, and technical strengths, particularly with respect to LiDAR, throughout its existing operations. This transaction is subject to a number of customary conditions including TSX Venture Exchange approval and due diligence. The scheduled closing date is February 28 th. About Volatus Aerospace: Volatus Aerospace Corp. is a leading provider of integrated drone solutions throughout Canada, the United States, and Latin America. Operating a vast pilot network, Volatus serves commercial and defense markets with imaging and inspection, security and surveillance, equipment sales and support, training, and design, manufacturing, and R&D. Through its subsidiary Volatus Aviation, Volatus carries on the business of aircraft management, charter sales, and cargo services using piloted, remotely piloted, and autonomous aircraft. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release. Cautionary Statement Regarding Forward-Looking Information This news release contains statements that constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Corporation with respect to future business activities and operating performance. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” (or other variations of the foregoing) be taken, occur, be achieved, or come to pass. Forward-looking information includes information regarding (i) the expectation that the acquisition described will close; (ii) the anticipated benefits to Volatus and its stakeholders from the acquisition; (iii) the effects of the acquisition on the business of Volatus and MVT and (iv) the business plans and expectations of the Corporation. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. For instance, conditions to the closing of the proposed acquisition may not be satisfied and closing may not occur within the anticipated time frame, if at all and anticipated benefits to the acquisition may not materialize. Readers are referred to the risk factors associated with Volatus’ business described in Volatus’ management information circular dated November 14, 2021, and filed on www.SEDAR.com on November 16, 2021. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Source: Volatus Aerospace Corp. TSXV: VOL Contact Details Volatus Aerospace Corp. Rob Walker, Chief Operating Officer +1 514-447-7986 rob.walker@volatusaerospace.com Company Website https://volatusaerospace.com

February 01, 2022 08:00 AM Eastern Standard Time

Image

Peninsula Fiber Network Adds Jaime Seling to Next Generation 911 Team

Peninsula Fiber Network, LLC

Peninsula Fiber Network, LLC (PFN), a leading provider of fiber optic-based telecommunications and Next Generation 911 services throughout Michigan, Wisconsin, and parts of Minnesota today announced the addition of Jaime Seling to its team. Seling is a 20-year veteran with the Oakland County Sheriff’s Department where she was a Dispatch Specialist, Shift Leader, and Quality Assurance Supervisor. In 2016 she was appointed to the State of Michigan 911 Emerging Technology Subcommittee. A graduate of Rochester University with a Bachelor of Science degree in Business Administration, she is intimately familiar with NG911 call center operations. Scott Randall, General Manager of Peninsula Fiber Network, stated, “PFN is growing rapidly, and we are fortunate to hire Jaime. Her experience at Oakland County is invaluable as it is one of the busiest counties in Michigan for 911 calls. She will work with our Next Generation 911 team where her previous work experience and skills will be utilized in her new role.” #### Jaime Seling Seling has a long work history with the Oakland County Sheriff’s Department—one of the busiest counties in the State of Michigan for 911 calls. She advanced from Dispatch Specialist to Shift Leader to Quality Assurance Supervisor over her 20-year career. In 2016 she was appointed to the State of Michigan 911 Emerging Technology Subcommittee where she still serves today. She holds an Associate Degree in Technological Sciences from Oakland Community College and a Bachelor of Science degree in Business Administration from Rochester University. Contact Details Peninsula Fiber Network, LLC (PFN) Scott Randall, General Manager +1 906-232-1012 srandall@pfnllc.net

February 01, 2022 08:00 AM Eastern Standard Time

Image

Customer Experience Equally Important as Price for Today’s Modern Consumer

imimobile

Good customer service is a key driver of repeat business, according to 75% of respondents 61% are willing to pay more for a better experience and 55% would change brands to receive better customer service Different generations have varying levels of comfort for different service needs, such as 19% of both Gen Z and young millennials would use social media to ask questions about a product/service compared to 4% of Baby Boomers, and 71% of Gen Z respondents would use a digital channel to manage orders, reservations and appointments compared to only 32% of Baby Boomers 47% of respondents say they believe good customer service is more important now than it was 12 months ago, pointing to integrated paths of communication in the physical and digital worlds being critical.To learn more about the findings, download the full report here. Customer experience (CX) has become as pivotal as price when it comes to purchasing decisions, demonstrating its importance to business success and a conversation that must break into the boardroom, according to research published today by global cloud communications software and solutions provider, imi mobile, part of Webex. The findings indicated a growing challenge for brands to balance and deliver three customer experience elements across all customer touchpoints – resolution, customer rapport and relevance, which imi mobile has designated the “CX Trilemma” and points to CX as a major business imperative. The inaugural “ 2022 CX Trilemma Report,” surveyed 2,000-plus U.S. and U.K consumers about qualities for good customer experience and presents findings that uncover shifting consumer preferences. Specifically, the report reveals preferences for how and when respondents want to engage and communicate with their favorite brands and businesses. Some key highlights: “Customers expect brands to meet them through their preferred channel, at their desired time with the information they require, and businesses who aren’t scaling to deliver against this increasing customer expectation will fade away,” said Jay Patel, VP & GM, Webex CPaaS. “The good news is that world-class CX can now be delivered by cloud-based technology. There are easy-to-use, multi-channel cloud communication platforms that enable businesses to orchestrate and automate their customer interactions on one, central platform, enabling the ability to resolve issues quickly, build rapport with customers and drive relevant experiences. Improving customer experience is the key business priority for 2022 that can directly impact the bottom line.” The CX Trilemma Report reveals that organizations truly committed to solving the CX challenge must support multiple channels and navigate new technology and innovation to not only meet but exceed customer expectations, especially for the Gen Z and millennials who are increasingly using more digital channels. For organizations serving multiple demographics or offering a diverse set of services, one channel simply can’t give every customer a satisfying journey. Resolution: Resolving customer problems, queries, and complaints, while being proactive with updates on products and services remain a cornerstone of a great customer experience. Respondents identified simplicity (79%), consistency (78%), speed (76%) and convenience (73%) as fundamental to resolution. Furthermore, 75% of respondents said quick resolutions influence repeat transactions. Rapport: Those surveyed called out brands for displaying a lack of empathy, transparency, and honesty as well as an inability to understand frustrations as reasons for a poor customer experience and dissuades them from using a brand or business altogether. Of this, 64% cited repeating information to different teams and having to proactively chase agents as leading factors for poor customer experience, which can also lead to negative word-of-mouth, reviews, and a tarnished reputation. Relevance: In a post-pandemic era, relevance is becoming an increasingly important part of the customer experience mix – communicating with customers on the channels they want to use, meeting them where they are and at the most convenient time (67%) while also delivering relevant, personalized communications are key for successful customer engagement (60%). What’s more, the findings unveil that every generation, industry, and region have varying preferences in regard to channels, when to be contacted and personalization of communications. “Finding the right communications mix for your customers requires a deep, nuanced understanding of them and your processes, and they are very different to those of just two years ago. To reach them in the right way, businesses need communications that work best for everyone, and this requires technical capabilities and expertise to orchestrate end-to-end customer journeys across multiple channels.” stated Patel. While you can support multiple communications channels manually, technologies such as Enterprise CPaaS (Communications Platform as a Service) make it easier to manage multiple channels, comply with regulations, and deliver a consistent, connected customer experience. About imimobile imimobile, part of Webex, provides cloud communications software and services that manage business-critical customer interactions at scale. We believe that customer experience is the key competitive advantage for consumer businesses. So, we’re creating a world where enterprises can stay constantly connected to their customers. A world where every touchpoint, on every channel, is an opportunity to deliver rich, engaging, intuitive experiences. Our API and low-code Communications Platform-as-a-Service (CPaaS) offering enables large enterprises to automate, orchestrate and monitor their customer interactions all on one platform. This helps businesses to lower costs, reduce complexity and accelerate IT roadmaps. Our innovative platform and applications are being used at scale today by blue-chip global enterprises and leading public-sector organizations to deliver smarter customer interactions, such as AA, Best Buy, BT, Capitec Bank, Centrica, EE, IHG, Mercedes, Orange, O2, Vodafone and Walgreens. The business was acquired by Cisco Systems in February 2021 and has global offices across the UK, USA, Canada, India, and South Africa. www.imimobile.com. Contact Details Kite Hill PR Michael Kocher +1 704-960-2295 michael@kitehillpr.com

February 01, 2022 12:00 AM Eastern Standard Time

Unlock Venture Partners Raises $60M Fund II

UnlockVP

Unlock Venture Partners today announced Fund II with over $60 million in committed capital to meet demand from startups in Seattle and Los Angeles. Unlock has made investments in 16 companies, including early seed investments in DRESSX, Irreverent Labs and Katalyst, which were announced today. Unlock was founded on the premise that while Seattle and Los Angeles represent two of the five largest tech markets in the country, there is a relative paucity of early stage funding and guidance compared to the Bay Area. The firm focuses on partnering with the best entrepreneurs in these two markets who leverage data and artificial intelligence to build world class companies. In addition to the new fund, Unlock announced Fund II investments in DRESSX, Irreverent Labs and Katalyst. DRESSX, the Los Angeles-based digital fashion startup, and Seattle-based Irreverent Labs recently raised seed rounds, while Katalyst, the Seattle-based in-home fitness company, is closing a Series A. Additional Fund II investments include Gen.G, Vitrina AI, Continuum Space Systems, and SeaSalt.ai. “Startups need help to grow and raise money outside of the Bay Area echo chamber,” said Andy Liu, Unlock Venture Partners managing partner. “We give startups an advantage in access to venture and supporting resources. Fund II helps us meet the growing investment opportunities in Los Angeles and Seattle.” The Unlock managing partners are located throughout the West Coast and arrived at the venture capital industry as founders and operators who have gone through the funding process on both sides of the table. The new fund will be used to pursue additional new investment opportunities in the Metaverse, gaming, and Web3 where these technologies are applied to applications such as digital media, fintech, insurance, e-commerce, and proptech. “There is tremendous demand among investors, businesses, and consumers for immersive virtual platform opportunities, like the Metaverse.” said Liu. “Fund II not only helps us reach more of those opportunities among our partners but includes five Metaverse/Web 3 startups among the initial 16 investments.” About Unlock Venture Partners: Unlock Venture Partners was co-founded by Andy Liu, Sanjay Reddy, and Raazi Imam. They have invested in more than 37 Seattle and Los Angeles-based startups including Possible Finance, Make.TV, Outer, Fight Camp, UNest, Crowd Cow and Dolly. Unlock has raised over $85M in total across two funds and special purpose vehicles. Unlock is a premier early stage fund to infuse capital into two high-potential, materially underserved markets. Contact Details Forrest Carman +1 206-859-3118 forrestc@owenmedia.com Company Website https://unlockvp.com/

January 31, 2022 09:00 AM Pacific Standard Time

Minuteman Press Franchise in Winter Park, FL Celebrates 25 Years and Shares Secrets to Longevity and Growth

Minuteman Press International Inc

In 1996, Linda Sang decided to leave the corporate world and join the Minuteman Press franchise family, and she is now celebrating 25 years in business. Linda’s daughter Darcy has been along for the ride, saying in a recent newsletter, “It was a world that none of us knew anything about, but would quickly learn as every available hand was recruited to answer phones, hand collate and staple jobs and market the business for our intrepid leader. And we have been doing it ever since.” Being in business for over 25 years, Linda shares her biggest keys to longevity and growth. She says, “We keep pushing to get new customers in various methods. The pandemic initially cut down on the door-to-door marketing that has always been successful in the past for us. We currently do more social media, thanks to my daughter, Darcy, and some direct mail campaigns targeting local businesses and new businesses.” Linda continues, “We are also very attentive to our customers, keeping them informed and helping them find solutions/options for their needs. We respond to emails almost instantly and turn quotes around as quickly as possible, generally the same day if there isn’t a lot of research involved. When we make deliveries, each customer gets a ‘goody bag’ with notepads and other branded items. Many customers get excited about our deliveries, sometimes even more so for our giveaways rather than their finished jobs.” Over the past two years, Linda and her team have utilized various digital and print marketing tools available to them. She says, “We have gotten more into social media than in the past and have worked on getting high Google ratings, as customers do look at reviews. We do find that we are getting a lot of requests from Google and the Minuteman Press Internet Marketing program. We also test out the suggested methods from Minuteman Press corporate (such as the lumpy mailer and direct mail campaigns) and see what works best for us and our customer base. Otherwise, we are simply doing what we have always done through the years… provide solid customer relations.” What’s next for Minuteman Press in Winter Park? Linda says, “We hope to grow this year by reaching out to new prospective customers and generate more referrals.” Lastly, Linda reflects on the family business and says, “In our case, Darcy and I work together well and have the same goals and work ethic. My husband, Kelly, is semi-retired and helps out when we need him. When you have this situation, you don’t have to worry about someone showing up to work or leaving for other opportunities. There is always loyalty. We also find it key to treat our employees as if they are family as well. Not only does it create a pleasant working environment, but loyalty builds as well. We work lean and mean, which makes for some long days, but when you trust your employees and family, it is truly a joy.” For more information on Minuteman Press in Winter Park, FL, visit https://minuteman.com/us/locations/fl/winter-park. For Minuteman Press products and services, visit https://minuteman.com. Learn more about #1 rated Minuteman Press franchise opportunities and read Minuteman Press franchise reviews at https://minutemanpressfranchise.com. Contact Details Minuteman Press International Chris Biscuiti +1 631-249-1370 cbiscuiti@mpihq.com Company Website https://minutemanpressfranchise.com

January 31, 2022 10:00 AM Eastern Standard Time

Image

Agora Data names Josh Pezzuto as Senior Vice President, Head of Sales

Agora

Agora Data, inventor of the first-ever crowdsourced securitization, reducing interest rate line of credit and technology platform supplying book value of loans for the subprime auto industry, today announced Josh Pezzuto has joined the company as Senior Vice President, Head of Sales. He will lead Agora’s sales team as the company continues its quest to make game-changing funding solutions and portfolio analytics available nationwide to Buy Here Pay Here dealers and finance companies. Pezzuto’s diverse sales and operations background spans multiple industries across his career. He has a proven track record of leading, growing and training teams to achieve measurable results. Pezzuto has worked for both startups and well-established, global corporations. The ability to thrive in any environment has contributed to his consistent success over the past two decades. In addition, Pezzuto’s fierce creativity and innovative thinking have been crucial to solving the toughest challenges along the way. Steve Burke, CEO of Agora Data, said, “Josh is a perfect fit for Agora’s trailblazing, entrepreneurial culture. We are breaking down more barriers for the Buy Here Pay Here industry every day. I believe Josh’s impeccable sales expertise, technology background and superior leadership skills are exactly what Agora and the industry needs to help even more dealers fuel their businesses and surpass their growth goals.” Pezzuto commented, “When I learned about Agora’s disruptive vision, I knew this was the place for me. I’m inspired by the company’s commitment to leveling the playing field for a notoriously underserved market, subprime auto dealers. Most of all, I’m excited to expand Agora’s impact by connecting more dealers and finance companies with the kind of funding and data analytics previously only available to mega-size operations.” About Agora Data, Inc: Agora Data’s platform delivers a suite of tools to empower Buy Here Pay Here dealers and finance companies to finance their subprime customers. Agora’s family of auto finance products provides a wide range of critical funding paths so originators can obtain the cash they need to fuel growth, compete, and build wealth. Powered by patent pending technology, originators now have access to robust data analytics and planning resources to help optimize the performance of their portfolios. Agora Data made history by closing the first-ever Crowdsourced Subprime Auto Securitization in 2020 and followed that up with its second transaction in early 2021. For more information, visit agoradata.com or contact us at 877-592-4672. Contact Details Shelly Vandeven +1 682-282-4130 media@agoradata.com Company Website https://agoradata.com/

January 31, 2022 09:03 AM Eastern Standard Time

Foresight Collaborates with a Leading Tier One Supplier on Enhancing ADAS Vision Systems

Foresight Autonomous Holdings Ltd.

Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) (“Foresight” or the “Company”), an innovator in automotive vision systems, announced today the signing of a joint proof of concept (POC) project with the American division of a leading Japanese Tier One supplier for the automotive industry. This project follows a successful evaluation of the QuadSight ® vision system prototype reported by the Company on March 19, 2021. The project consists of technological evaluation and testing of predefined simulated and real-life scenarios. Foresight intends to demonstrate its ability to create a stereo pair using the leading Tier One supplier’s existing camera hardware in order to generate rich perception based on enhanced 3D depth map, accurate distance measurement and object detection, thereby leveraging Foresight’s stereoscopic technology to enhance the leading Tier One supplier’s existing system. Foresight’s proprietary Mono2Stereo™ software-based solution uses the overlapping fields of view of existing mono cameras to create a 3D perception stereo vision system and improve the overall probability of detection. “We are excited to see increased interest in our unique technology from the automotive industry, as more companies that have evaluated our QuadSight prototype system choose to proceed to POC projects with us. We believe that having been chosen by a leading Tier One supplier of automotive stereo vision systems validates the added value of our stereoscopic technology to enhance existing advanced driver assistance systems (ADAS) and amplify their performance, resulting in better distance accuracy and more robust active safety features,” said Haim Siboni, CEO of Foresight. “Our solution can be readily deployed in vehicles equipped with Level 2 and Level 2 plus autonomy systems, without requiring additional hardware and design changes. We believe that teaming up with the leading Tier One supplier may potentially lead to further collaborations with vehicle manufacturers worldwide.” Forward-Looking Statements This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates" and similar expressions or variations of such words are intended to identify forward-looking statements. For example, Foresight is using forward-looking statements in this press release when it discusses the project with the leading Tier One supplier of stereo vision systems and the Company’s belief that teaming up with the leading Tier One supplier validates the added value of its technology to the leading Tier One supplier’s ADAS systems and may potentially lead to further collaborations with vehicle manufacturers worldwide. Because such statements deal with future events and are based on Foresight’s current expectations, they are subject to various risks and uncertainties, and actual results, performance or achievements of Foresight could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading "Risk Factors" in Foresight's annual report on Form 20-F filed with the Securities and Exchange Commission ("SEC") on March 30, 2021, and in any subsequent filings with the SEC. Except as otherwise required by law, Foresight undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites have been provided as a convenience, and the information contained on such websites is not incorporated by reference into this press release. Foresight is not responsible for the contents of third party websites. About Foresight Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX) is a technology company developing smart multi-spectral vision software solutions and cellular-based applications. Through the Company’s wholly owned subsidiaries, Foresight Automotive Ltd. and Eye-Net Mobile Ltd., Foresight develops both “in-line-of-sight” vision systems and “beyond-line-of-sight” accident-prevention solutions. Foresight’s vision solutions include modules of automatic calibration, sensor fusion and dense 3D point cloud that can be applied to diverse markets such as automotive, defense, autonomous vehicles and heavy industrial equipment. Eye-Net Mobile’s cellular-based solution suite provides real-time pre-collision alerts to enhance road safety and situational awareness for all road users in the urban mobility environment by incorporating cutting-edge AI technology and advanced analytics. For more information about Foresight and its wholly owned subsidiary, Foresight Automotive, visit www.foresightauto.com, follow @ForesightAuto1 on Twitter, or join Foresight Automotive on LinkedIn. Contact Details Investor Relations Contact: Miri Segal-Scharia, CEO, MS-IR LLC +1 917-607-8654 msegal@ms-ir.com Company Website https://www.foresightauto.com/

January 31, 2022 08:10 AM Eastern Standard Time

1 ... 511 512 513 514 515 ... 648