Foresight Takes Major Step Toward Commercialization With Elbit Systems Securing Revenues Up To $4M, Over A Contractual Period Of 5-Years, With Minimum Guaranteed Revenues Of $1M Over That Time Period
Portfolio Pulse from Happy Mohamed
Foresight Autonomous Holdings Ltd. (FRSX) has signed a five-year exclusive commercialization agreement with Elbit Systems Land Ltd. (ESLT) for the integration, marketing, and licensing of Foresight's image processing software solution. Foresight expects revenues of up to $4 million over the five-year period, with a minimum guarantee of $1 million. The software will be used in advanced driver assistance systems and semi- and fully-autonomous platforms for defense, paramilitary, and homeland security markets.
July 17, 2023 | 12:22 pm
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Elbit Systems' exclusive deal with Foresight gives it access to advanced image processing software for use in its defense and security platforms.
The deal with Foresight gives Elbit Systems exclusive access to advanced image processing software, which could enhance its product offerings in the defense and security markets. This could have a positive impact on its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Foresight's deal with Elbit Systems could bring in up to $4 million in revenues over five years, strengthening its financial position.
The deal with Elbit Systems provides Foresight with a new revenue stream and strengthens its position in the market for autonomous vehicle technology. This is likely to have a positive impact on its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100