Foresight (NASDAQ: FRSX) (TASE: FRSX) announced a definitive agreement with VisionWave Holdings (NASDAQ: VWAV) for a strategic equity investment of up to $17.5 million in VisionWave common stock, reflecting a post-investment valuation of approximately $34 million for Foresight. The companies plan to combine Foresight’s visible light, infrared and neuromorphic sensing technologies with VisionWave’s artificial intelligence and radio frequency-based perception systems to develop advanced solutions for defense and security applications.
Under the agreement, VisionWave is expected to acquire a controlling 52% stake in Foresight through a two-stage transaction and gain representation on the company’s board of directors, subject to shareholder and regulatory approvals. The collaboration is intended to accelerate the development and commercialization of AI-enhanced perception platforms targeting applications such as counter-drone systems, tactical unmanned systems, border security and critical infrastructure monitoring, while both companies continue operating as independent publicly traded entities.
For more information about Foresight and its wholly owned subsidiary, Foresight Automotive, visit www.foresightauto.com
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