Foresight Autonomous Inks Commercialization Agreement With Elbit
Portfolio Pulse from Shivani Kumaresan
Foresight Autonomous Holdings Ltd (FRSX) has signed an exclusive commercialization agreement with Elbit Systems Land Ltd, a subsidiary of Elbit Systems Ltd (ESLT). The agreement is for the integration, marketing, and licensing of Foresight's image processing software solution. Foresight expects revenues of up to $4 million over a contractual period of five years, with minimum guaranteed revenues of $1 million. FRSX shares are trading higher by 19.6% at $3.17.
July 17, 2023 | 6:28 pm
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POSITIVE IMPACT
Elbit Systems' subsidiary has signed an exclusive commercialization agreement with Foresight Autonomous. This could potentially enhance Elbit's product offerings in the ADAS field.
The agreement with Foresight Autonomous could potentially enhance Elbit's product offerings in the advanced driver assistance systems (ADAS) field. This could potentially increase Elbit's market share in this field.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Foresight Autonomous signed an exclusive commercialization agreement with Elbit Systems. This could potentially increase Foresight's revenues by up to $4 million over five years.
The agreement with Elbit Systems could potentially increase Foresight's revenues significantly over the next five years. This positive news has already resulted in a 19.6% increase in FRSX's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100