Seeing Machines acquires Asaphus from Valeo
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By Bradley Osborne - 31st July 2024
France / Australia / Germany – Seeing Machines Ltd, a specialist in driver monitoring systems based in Canberra, Australia, has acquired a German company, called Asaphus Vision GmbH, and is now making plans with Valeo SA of Paris, France to collaborate on active safety products to mitigate the effects of driver drowsiness and inattentiveness.
Seeing Machines bought the Berlin-based Asaphus from Valeo earlier in July for a total price of USD6m, to be paid in instalments. Seeing Machines will pay USD2m in cash in two tranches; it will then pay the remainder within five years’ time if it meets certain business outcomes.
