NetworkNewsBreaks – Foresight Autonomous Holding
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Posted On: 12/17/2018 4:46:26 PM
NetworkNewsBreaks – Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) (TASE: FRSX) and RH Electronics Ltd. Form Strategic Alliance
Automotive technology innovator Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) (TASE: FRSX) this morning announced its entry into a non-binding development and investment agreement with RH Electronics Ltd., a primary contractor in the assembly and manufacture of electronic systems. Under the agreement, RH will engage directly and/or through its approved contractor, Tonson Labs, to develop chip-based FPGA and ASIC solutions for Foresight’s four-camera vision system, QuadSight, in a multi-phase project. According to the update, RH will lay the infrastructure for an FPGA-board platform in the initial phase of the project; it intends to proceed with the development and manufacture of an ASIC chip for the QuadSight system following successful completion of phase 1 and acceptance tests.
“We are very excited about this important strategic alliance with RH that aims to enable us to achieve important future technological milestones,” Foresight CEO Haim Siboni stated in the news release. “RH’s intended investment at a premium over the share market price marks a significant show of confidence in Foresight’s technology. RH’s engineering, developing and manufacturing capabilities are of great value to Foresight, making them an ideal partner for our future roadmap.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Automotive technology innovator Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) (TASE: FRSX) this morning announced its entry into a non-binding development and investment agreement with RH Electronics Ltd., a primary contractor in the assembly and manufacture of electronic systems. Under the agreement, RH will engage directly and/or through its approved contractor, Tonson Labs, to develop chip-based FPGA and ASIC solutions for Foresight’s four-camera vision system, QuadSight, in a multi-phase project. According to the update, RH will lay the infrastructure for an FPGA-board platform in the initial phase of the project; it intends to proceed with the development and manufacture of an ASIC chip for the QuadSight system following successful completion of phase 1 and acceptance tests.
“We are very excited about this important strategic alliance with RH that aims to enable us to achieve important future technological milestones,” Foresight CEO Haim Siboni stated in the news release. “RH’s intended investment at a premium over the share market price marks a significant show of confidence in Foresight’s technology. RH’s engineering, developing and manufacturing capabilities are of great value to Foresight, making them an ideal partner for our future roadmap.”
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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