Smart Eye Announces Largest-Ever Driver Monitoring System (DMS) Deal - Delivering its Software as a Tier 1 Supplier
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GÖTEBORG, SE / ACCESSWIRE / December 18, 2023 / Smart Eye (STO:SEYE)(OTC PINK:SMTEF)(FRA:SE9) The company will deliver its DMS technology to 46 new car models by a major North American vehicle manufacturer. The estimated revenue of the order is SEK 1.55 billion based on estimated product life cycle projections.
Gothenburg, Sweden - December 18, 2023 - Smart Eye, the leading developer of DMS software for the automotive industry, today announced a major breakthrough order from one of the world's largest OEMs. For the first time, Smart Eye will deliver its technology as a software Tier 1 supplier directly to the car manufacturer, with the software stack running on an advanced AI processing platform.
The customer, a large North American car manufacturer, already has several vehicle models with Smart Eye's DMS technology on the road, with more cars to be launched in the coming years. These will remain in production with Smart Eye as a Tier 2 supplier until 2027, when the 46 new car models will ramp up its production with Smart Eye as a Tier 1 supplier.
The estimated revenue for the order is SEK 1.55 billion, based on product life cycle volume projections.
"This deal is the first of its kind. For Smart Eye to deliver our software as a Tier 1 supplier in a deal of this magnitude is an extremely significant development in more than one way," said Martin Krantz, CEO and Founder of Smart Eye. "Not only does it bring us even closer to the customer, but it also points to a shift in the industry at large. We have entered a new era of software defined vehicles, where advanced AI takes automotive safety to new heights."
Smart Eye has now received a total of up to 296 design wins from 20 OEMs. The combined estimated lifetime value from current design wins is now larger than SEK 6.715 billion. The estimated value over the product lifecycle from possible additional design wins with all 20 car manufacturers is SEK 3 billion.
For more information:
Martin Krantz, CEO Smart Eye AB
Phone: +46 70-329 26 98
Email: martin.krantz@smarteye.se
About Smart Eye
Smart Eye is the leading provider of Human Insight AI, technology that understands, supports and predicts human behavior in complex environments. The company is on a mission to bridge the gap between humans and machines for a safe and sustainable future. Supported by Affectiva and iMotions - companies it acquired in 2021 - Smart Eye's multimodal software and hardware solutions provide unparalleled insight into human behavior.
In automotive, Smart Eye's driver monitoring systems and interior sensing solutions improve road safety and the mobility experience. The company's eye tracking technology and iMotions biosensor software platform are also used in behavioral research to enable advanced research in academic and commercial sectors. In media analytics, Affectiva's Emotion AI provides the world's largest brands and market researchers with a deeper understanding of how consumers engage with content, products, and services.
Founded in 1999, Smart Eye is a global company headquartered in Sweden, with customers including NASA, Nissan, Boeing, Honeywell, Volvo, GM, BMW, Polestar, Geely, Harvard University, 26 percent of the Fortune Global 500 companies, and over 1,300 research organizations around the world.
Visit www.smarteye.ai for more information.
Visit our investor web for more financial information: https://smarteye.se/investors/
Smart Eye is listed on the Nasdaq First North Growth Market. The Company's Certified Adviser is Carnegie Investment Bank AB (publ).
This information is information that Smart Eye is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2023-12-18 08:00 CET.
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