SaverOne Announces Strategic Acquisition of Micronet’s Generation-3 Camera IP
SaverOne 2014 (Nasdaq: SVRE, TASE: SVRE), a transportation safety solutions company, has announced a strategic asset purchase agreement for Micronet 's Generation-3 camera products and intellectual property (IP). The acquisition includes IP and inventory related to Micronet's Generation 3 camera at no upfront cost, with future royalty payments contingent on sales. This move aligns with SaverOne's strategy to expand its product portfolio and enhance offerings.
CEO Ori Gilboa stated that the acquisition supports their intention to create a unique combined product with both camera and cellular distraction prevention solutions. The company sees this as a significant opportunity for future revenue growth and potential for new customer acquisition, particularly in the United States.
SaverOne 2014 (Nasdaq: SVRE, TASE: SVRE), un'azienda che offre soluzioni per la sicurezza dei trasporti, ha annunciato un accordo strategico di acquisto di asset per i prodotti della terza generazione della fotocamera Micronet e per la relativa proprietà intellettuale (IP). L'acquisizione include IP e inventario collegati alla fotocamera di terza generazione di Micronet, a zero costi iniziali, con pagamenti futuri delle royalty subordinati alle vendite. Questa iniziativa è in linea con la strategia di SaverOne di espandere il proprio portafoglio di prodotti e migliorare le proprie offerte.
Il CEO Ori Gilboa ha dichiarato che l'acquisizione supporta la loro intenzione di creare un prodotto combinato unico che integri soluzioni per la fotocamera e prevenzione delle distrazioni cellulari. L'azienda considera questa come un significativa opportunità per la crescita dei ricavi futuri e il potenziale per acquisire nuovi clienti, in particolare negli Stati Uniti.
SaverOne 2014 (Nasdaq: SVRE, TASE: SVRE), una empresa de soluciones para la seguridad del transporte, ha anunciado un acuerdo estratégico de compra de activos para los productos de cámara de tercera generación de Micronet y su propiedad intelectual (IP). La adquisición incluye IP e inventario relacionados con la cámara de tercera generación de Micronet, a cero costo inicial, con los futuros pagos de regalías sujetos a las ventas. Este movimiento está alineado con la estrategia de SaverOne de expandir su cartera de productos y mejorar sus ofertas.
El CEO Ori Gilboa afirmó que la adquisición apoya su intención de crear un producto combinado único que incluya tanto soluciones de cámara como de prevención de distracciones celulares. La empresa ve esto como una oportunidad significativa para el crecimiento de los ingresos futuros y el potencial para adquirir nuevos clientes, especialmente en Estados Unidos.
SaverOne 2014 (Nasdaq: SVRE, TASE: SVRE), 교통 안전 솔루션 회사가 Micronet의 3세대 카메라 제품 및 지적 재산(IP)에 대한 전략적 자산 구매 계약을 발표했습니다. 이번 인수에는 IP 및 재고가 포함되며, Micronet의 3세대 카메라에 대해 선불 비용이 없다는 점이 특징이며, 향후 로열티 지급은 판매에 따라 이루어집니다. 이 조치는 SaverOne의 제품 포트폴리오 확장 전략과 서비스를 개선하기 위한 목표에 부합합니다.
CEO Ori Gilboa는 이번 인수가 카메라와 셀룰러 주의 산만 방지 솔루션을 통합한 독창적인 결합 제품을 만들려는 의도를 지지한다고 밝혔습니다. 이는 향후 수익 성장을 위한 중요한 기회이자 새로운 고객을 유치할 수 있는 잠재력으로 보고 있습니다, 특히 미국에서.
SaverOne 2014 (Nasdaq: SVRE, TASE: SVRE), une entreprise de solutions de sécurité pour le transport, a annoncé un accord stratégique d'achat d'actifs pour les produits de caméra de troisième génération de Micronet et pour la propriété intellectuelle (PI) associée. L'acquisition comprend PI et inventaire liés à la caméra de troisième génération de Micronet sans coût initial, les paiements futurs de redevances étant conditionnés aux ventes. Cette initiative s'inscrit dans la stratégie de SaverOne visant à élargir son portefeuille de produits et à améliorer ses offres.
Le PDG Ori Gilboa a déclaré que l'acquisition soutenait leur intention de créer un produit combiné unique incluant à la fois des solutions de caméra et de prévention des distractions cellulaires. L'entreprise considère cela comme une opportunité significative pour la croissance future des revenus et un potentiel d'acquisition de nouveaux clients, en particulier aux États-Unis.
SaverOne 2014 (Nasdaq: SVRE, TASE: SVRE), ein Unternehmen für Verkehrssicherheitslösungen, hat eine strategische Vereinbarung über den Erwerb von Vermögenswerten für die Kamera-Produkte der dritten Generation und das geistige Eigentum (IP) von Micronet angekündigt. Die Akquisition umfasst IP und Inventar im Zusammenhang mit Micronets Kamera der dritten Generation zu keinen anfänglichen Kosten, wobei zukünftige Lizenzzahlungen von den Verkaufszahlen abhängen. Dieser Schritt steht im Einklang mit der Strategie von SaverOne, sein Produktportfolio zu erweitern und die Angebote zu verbessern.
CEO Ori Gilboa erklärte, dass die Akquisition ihre Absicht unterstützt, ein einzigartiges kombiniertes Produkt mit Lösungen zur Verhinderung von Ablenkungen durch Kameras und Mobiltelefone zu schaffen. Das Unternehmen sieht dies als bedeutende Gelegenheit für zukünftiges Umsatzwachstum und das Potenzial zur Akquise neuer Kunden, insbesondere in den Vereinigten Staaten.
- Strategic acquisition of Micronet's Generation-3 camera IP and inventory at no upfront cost
- Potential for future revenue growth through expanded product offerings
- Opportunity for new customer acquisition, especially in the United States
- Creation of a unique combined product with camera and cellular distraction prevention solutions
- Future royalty payments to Micronet contingent on sales of products incorporating the acquired technology
This strategic acquisition by SaverOne marks a significant move to expand its product portfolio without immediate financial burden. The earn-out structure of the deal is particularly noteworthy, as it aligns future payments with actual sales performance. This approach minimizes upfront risk while potentially unlocking substantial value.
From an investor's perspective, this deal presents a low-risk, high-reward scenario. The absence of upfront costs preserves SaverOne's current cash position, while the potential for future revenue growth through new product offerings is promising. However, investors should closely monitor the company's ability to successfully integrate and monetize this new technology, as the true value of the acquisition will be determined by market adoption and sales performance.
SaverOne's acquisition of Micronet's Generation-3 camera IP is a strategic technological enhancement to their existing safety solutions. By integrating advanced camera technology with their cellular distraction prevention system, SaverOne is positioning itself at the forefront of comprehensive vehicle safety solutions.
This move could potentially lead to the development of a unique, integrated product that addresses multiple aspects of driver safety. The synergy between cellular distraction prevention and advanced camera systems, including Driver Monitoring Systems (DMS), could result in a more robust and effective safety solution. This technological advancement may give SaverOne a competitive edge in the rapidly evolving transportation safety market, particularly in the lucrative U.S. market.
SaverOne's acquisition of Micronet's camera technology signifies a strategic market positioning move. By expanding its product line, SaverOne is diversifying its offering and potentially increasing its market share in the transportation safety solutions sector. The U.S. market, in particular, represents a significant growth opportunity given its size and increasing focus on vehicle safety technologies.
However, success will depend on SaverOne's ability to effectively integrate and market this new technology. The company will need to demonstrate clear value proposition to customers, especially in a competitive market. Investors should watch for indicators of market acceptance, such as new customer acquisitions and revenue growth from these integrated products, to gauge the long-term impact of this strategic move on SaverOne's market position.
Expands SaverOne’s product line with potential for future revenue growth
Petah Tikvah, Israel, Aug. 27, 2024 (GLOBE NEWSWIRE) -- SaverOne 2014 Ltd. (Nasdaq: SVRE, TASE: SVRE), a technology company specializing in transportation safety solutions, today announced a strategic asset purchase agreement for Micronet Ltd.’s (TASE: MCRNT) Generation-3 camera products and intellectual property (IP). Micronet is a developer of advanced telematics systems, cameras, and Driver Monitoring Systems (DMS). This acquisition aligns with SaverOne’s strategy to expand its portfolio of solutions and enhance its product offerings.
Under the terms of the agreement, SaverOne will acquire the intellectual property (IP) and inventory related to Micronet’s Generation 3 camera at no upfront cost. The acquisition is structured as an earn-out agreement, with future royalty payments to Micronet contingent upon the sale of products incorporating the acquired camera technology.
“This acquisition of products and related IP is a new component of our ongoing strategy to broaden our product offerings and solutions for customers,” commented Ori Gilboa, CEO of SaverOne. “We believe that we are acquiring a robust IP suite and next-generation cameras that complement our existing solution and supports our intention to create a unique combined product with both camera and cellular distraction prevention solution. This transaction represents a significant opportunity for future revenue growth, as well as potential for new customer acquisition, particularly in the United States.”
About SaverOne’s Systems
SaverOne’s system is installed in vehicles to provide a solution to the problem of driver distraction, as a result of drivers using distracting applications on the mobile phone while driving, in a way that endangers their safety, the safety of their passengers and others on the road. This phenomenon is considered one of the main causes of road accidents in the world. According to the US National Highway Traffic Safety Administration, the annual cost of road accidents just in the United States, stands at about
SaverOne’s primary target markets include commercial and private vehicle fleets, including public transportation and buses, that are interested in reducing potential damages and significant cost, vehicle manufacturers that are interested in integrating safety solutions to their vehicles, and insurance and leasing companies. SaverOne initially addresses car fleets with focus on the Israeli, European and US markets, as well as other markets around the world. SaverOne believes that ultimately increased focus on monitoring and prevention of cellular distraction systems in vehicles, in particular driven by upcoming expected EU regulation, will likely have a dramatic positive impact on the demand for its systems in the future.
The Company’s strategy is to provide its technology for installation to customers in the aftermarket as well as address OEM vehicle manufacturers, to install the Company’s protection technologies during the vehicle manufacturing process.
SaverOne has developed a Vulnerable Road User (VRU) solution with the potential to significantly enhance the performance of Advanced Driver Assistance System (ADAS) sensors through a superior ability to deal with NLoS (non-line of sight) situations as well as adverse weather conditions and low-visibility. SaverOne’s technology identifies the exact location and direction of movement of the VRU via their RF footprint from their cellphone signal. This safety solution enables the avoidance of a collision by early detection VRUs such as pedestrians or cyclists in the vicinity of the vehicle.
About SaverOne
SaverOne is a technology company engaged in the design, development and commercialization of OEM and aftermarket solutions and technologies, to lower the risk of, and prevent, vehicle accidents.
SaverOne’s initial line of products is a suite of solutions that saves lives by preventing car accidents resulting from distraction from the use of mobile phones while driving. SaverOne is also developing a sensor system for early location and direction detection under all visibility conditions of vulnerable road users (VRU) through their cellphone footprint.
Learn more at https://saver.one/
Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act and other securities laws that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, statements regarding SaverOne’s strategic and business plans, technology, relationships, objectives and expectations for its business, growth, the impact of trends on and interest in its business, intellectual property or product and its future results, operations and financial performance and condition and may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on SaverOne’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. Many factors could cause SaverOne’s actual activities or results to differ materially from the activities and results anticipated in such forward-looking statements. Factors that could cause our actual results to differ materially from those expressed or implied in such forward-looking statements include, but are not limited to: the ability of SaverOne’s technology to substantially improve the safety of drivers; market acceptance of SaverOne’s protection solutions; SaverOne’s planned level of revenues and capital expenditures; SaverOne’s ability to market and sell its products; SaverOne’s successful incorporation of the Micronet Generation-3 camera products into its product offerings; SaverOne’s plans to continue to invest in research and development to develop technology for both existing and new products; SaverOne’s intention to advance its technologies and commercialization efforts; SaverOne’s intention to use local distributors in each country or region that it will conduct business to distribute our products or technology; SaverOne’s plan to seek patent, trademark and other intellectual property rights for our products and technologies in the United States and internationally, as well as its ability to maintain and protect the validity of its currently held intellectual property rights; SaverOne’s expectations regarding future changes in its cost of revenues and our operating expenses; interpretations of current laws and the passage of future laws; acceptance of SaverOne’s business model by investors; the ability to correctly identify and enter new markets; the impact of competition and new technologies; general market, political and economic conditions in the countries in which SaverOne operates; projected capital expenditures and liquidity; SaverOne’s intention to retain key employees, and our belief that we maintain good relations with all of its employees; any resurgence of the COVID-19 pandemic and its impact on SaverOne’s business and industry; security, political and economic instability in the Middle East that could harm SaverOne’s business, including due to the current war between Israel and Hamas; and other risks and uncertainties, including, but not limited to, the risks detailed in the Company’s Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the “SEC”) on March 25, 2024 and in subsequent filings with the SEC. Forward-looking statements contained in this announcement are made as of this date, and SaverOne undertakes no duty to update such information except as required under applicable law.
International Investor Relations Contact:
Ehud Helft
+1 212 378 8040
saverone@ekgir.com
Israeli Investors Contact:
Jonathan Eilat
John@theinvestor.co.il
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