FRSX Press Release promoting a Cyber Security JV with another Silberman-Schrem Company Safe-T.
Silberman-Schrem are actually noted as investors in the press release.
Press Release from 2017-04-25 that is no longer accessible on Foresight Autonomous website.
Original Title
Foresight and Safe T to Establish Vehicle Cyber Security Joint Venture
FRSX Press Release promoting a Cyber Security JV with another Silberman-Schrem Company Safe-T.
Silberman-Schrem are actually noted as investors in the press release.
Press Release from 2017-04-25 that is no longer accessible on Foresight Autonomous website.
FRSX Press Release promoting a Cyber Security JV with another Silberman-Schrem Company Safe-T.
Silberman-Schrem are actually noted as investors in the press release.
Press Release from 2017-04-25 that is no longer accessible on Foresight Autonomous website.
Foresight and Safe-T to Establish Vehicle CyberSecurity Joint Venture
NESS ZIONA, April 25,2017- ForesightAutonomous Holdings (TASE: FRST), a leading
developer of advanced systems forroad traffic accident prevention, announcedtoday the formation of a joint cybersecurity company dedicated to trainand automotive safety, in collaboration with securityinformation company Safe-T Data and other parties.
The companies are joined by the developer of train safety andaccident prevention technologies; Rail Vision, a private Israeli company inwhich Foresight is a shareholder; and the Shrem-Zilberman group.
Under the joint company agreement, which allocates ownership stakesto each party, Safe-T Data will grant a license for its secure data access (SDA)product and provide technical support and development services to adapt itsproducts to the automotive industry.
Foresight and Rail Vision will harness their expertise in theautonomous vehicle and train fields, respectively, and provide sales,consulting and additional business services. When the mentioned agreements arefinalized, the Shrem-Zilberman group will provide the initial capital required toestablish the joint company. It will also act to further raise funds as needed.
About Foresight Foresight (TASE: FRST), founded in 2015, is atechnology company engaged in the design, development and commercialization of3D multi-camera-based Advanced Driver Assistance Systems (“ADAS”). Foresightwas established to further develop advanced technology originally developed byMagna B.S.P. for the vehicle industry, for use in accident prevention systems.The Company, through its subsidiary, develops advanced systems for accidentprevention, which are designed to provide real-time information about a movingvehicle's surroundings. These systems, based on 3D technology, advancedalgorithms and artificial intelligence, will revolutionize ADAS by providing anautomotive grade, cost-effective platform, enabling highly accurate andreliable detection while ensuring the lowest rates of false alerts.
About Safe-T Data
Safe-T Data (TASE: SAFE) based in Stamford, Conn., is a provider ofsolutions designed to mitigate attacks on business-critical services and datafor a wide range of industries, including: financial, healthcare, and government.Its High-risk Data Security (HDS) Solution mitigates data threats:un-authorized access to data, services, networks, or APIs; as well as datarelated threats, including data exfiltration, leakage, malware, ransomware, andfraud. Its products are scaled to allow the transmission of Data Safe, ProtectUsers and Business while driving Agility across Global Ecosystems.
