NetworkNewsBreaks – Foresight Autonomous Holding
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Posted On: 07/12/2018 7:27:12 PM
NetworkNewsBreaks – Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) (TASE: FRSX) Increases Ownership in Rail Vision Ltd.
Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX) this morning announced that it has increased its ownership in Rail Vision Ltd., making the company the largest shareholder. Foresight raised its ownership stake to roughly 35% of issued and outstanding shares and 34% on a fully diluted basis by exercising $2.24 million of warrants. Rail Vision develops unique solutions and vision-based systems for innovative safety, asset and fleet management in the rail industry. “We believe that, like in the automotive space, the next step is to provide trains with sensors and processing capabilities, to prevent accidents, reduce downtime, and increase productivity. Rail Vision is uniquely positioned to offer these functionalities and provide systems which have the potential to significantly reduce maintenance costs. Rail Vision is a leader in cognitive vision systems that detect objects before a train and make real-time decisions. We strongly believe that Rail Vision’s capabilities will become the standard in this market,” Foresight CEO Haim Siboni stated in the news release.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Foresight Autonomous Holdings (NASDAQ: FRSX) (TASE: FRSX) this morning announced that it has increased its ownership in Rail Vision Ltd., making the company the largest shareholder. Foresight raised its ownership stake to roughly 35% of issued and outstanding shares and 34% on a fully diluted basis by exercising $2.24 million of warrants. Rail Vision develops unique solutions and vision-based systems for innovative safety, asset and fleet management in the rail industry. “We believe that, like in the automotive space, the next step is to provide trains with sensors and processing capabilities, to prevent accidents, reduce downtime, and increase productivity. Rail Vision is uniquely positioned to offer these functionalities and provide systems which have the potential to significantly reduce maintenance costs. Rail Vision is a leader in cognitive vision systems that detect objects before a train and make real-time decisions. We strongly believe that Rail Vision’s capabilities will become the standard in this market,” Foresight CEO Haim Siboni stated in the news release.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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