Mitsubishi Electric Mobility Corporation has entered into a capital and business partnership with Seeing Machines, a leading Australian provider of Driver Monitoring System (DMS) software, to strengthen its presence in the growing DMS market. The partnership aims to enhance road safety by leveraging advanced technologies to detect driver distraction and drowsiness.
As part of the agreement, Mitsubishi Electric Mobility will invest £40 million, acquiring 15% of Seeing Machines’ newly issued shares through a third-party allotment on December 23, 2024. Additionally, the company plans to purchase an additional 6.9% of shares from existing shareholders via an over-the-counter transaction, raising its total ownership to 19.9%.
With DMS set to become mandatory in new European vehicles by 2026 and similar regulations emerging in other markets, global demand for this technology is expected to surge. Advances in Software-Defined Vehicle (SDV) technology are also driving a shift toward software-centric models, creating opportunities for growth in standalone software businesses.
The partnership combines Seeing Machines’ expertise in image-processing technology, enabling precise detection of driver behaviour, with Mitsubishi Electric Mobility’s advanced state estimation technologies. This synergy will allow the companies to meet evolving global regulatory and assessment standards while delivering innovative, adaptable solutions for safer and more comfortable in-vehicle environments.
Beyond vehicle manufacturing, Mitsubishi Electric Mobility aims to tap into Seeing Machines’ expertise in the corporate transportation sector. The collaboration will enable the development of competitive solutions that cater to diverse market needs, including integrated hardware-software systems and standalone software offerings.
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