GOTHENBURG, SWEDEN and BOSTON — Smart Eye, a company focused on AI-based eye tracking, has completed its acquisition of Affectiva.
The newly merged company “has formed a global AI powerhouse that will lead and accelerate the growth and development of software for automotive Interior Sensing, Media Analytics, Human Factors Research and other adjacent markets,” according to a press release.
Financial terms of the deal were not disclosed.
More from the release:
Post-closing, Smart Eye and Affectiva are focused on combining their complimentary teams and technologies to deliver an advanced Interior Sensing platform, using machine learning, deep learning, computer vision and massive amounts of real-world data to gain a deeper understanding of what is happening inside a vehicle. This solution will not only improve automotive safety, saving human lives around the world, it will also provide differentiated mobility experiences that enhance wellness, comfort and entertainment.
The combined company will continue to deliver innovative Driver Monitoring Systems (DMS), building on Smart Eye’s proven leadership in this space. Already, Smart Eye has achieved a stronghold in the DMS market through 84 production contracts with 13 OEMs.
Now, in order to meet the regulatory requirements and industry demands for not only driver monitoring, but holistic cabin and occupant monitoring, the newly merged company will combine its industry-leading technologies to deliver a new Interior Sensing platform that will position them to successfully bid on the Interior Sensing contracts that OEMs and Tier 1s are putting out for bid.
These new capabilities will be on display at CES 2022, where Smart Eye will have a larger booth (#6942) in the new CES West Hall that will be focused on automotive tech. Demos will be available to select clients, partners, investors and media. Smart Eye will announce more details about the company’s presence at CES 2022 this Fall.
For more information on the combined company, visit: https://smarteye.se/smart-eye-acquires-affectiva/
For more information on the deal structure, visit http://www.corp.smarteye.se/en/press/
About Smart Eye
Smart Eye is leading the way towards safe and sustainable transportation. Every year, 1.2 million people lose their lives in traffic-related accidents around the world, another 50 million are injured. Our firm belief is that science and technology can help turn this around.
For over 20 years Smart Eye has developed artificial intelligence (AI) in the form of eye tracking technology that understands, supports and predicts a person’s intentions and actions. By carefully studying eye, facial and head movement, our technology can draw conclusions about a person’s awareness and mental state. Our eye tracking technology is used in the next generation of cars, commercial vehicles and providing new insights for research within aerospace, aviation, neuroscience and more.
Smart Eye’s solutions are used around the world by more than 800 partners and customers, including the US Air Force, NASA, BMW, Lockheed Martin, Audi, Boeing, Volvo, GM, and Harvard University.
Smart Eye is listed on Nasdaq First North Growth Market.
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