Benzinga | Apr 21, 2021 08:37AM EDT

Foresight Autonomous Holdings Subsidiary, Eye-Net Mobile, Signs Exclusive Distribution Agreement With A Brazilian Distributor

Sao Paulo's state government unveils a new program aimed at accelerating smart city initiatives in the areas of infrastructure and transportation

Foresight Autonomous Holdings Ltd. (Nasdaq and TASE: FRSX), an innovator in automotive vision systems, announced today that its wholly owned subsidiary, Eye-Net Mobile Ltd., signed a distribution agreement with WebSIA Solu??es Disruptivas, Intelig?ncias Associadas, Tecnologia e Servi?os Ltda., a Brazilian distributor, developer and integrator focused on cutting-edge technologies. According to the agreement, WebSIA will exclusively promote and sell the Eye-Net(tm) Protect cellular-based accident prevention solution and serve as Eye-Net's distributor in the city of Sao Paulo to support customers and generate new business. Following successful integration of Eye-Net's solutions in Sao Paulo, the parties may expand the agreement to additional territories.

"We are extremely honored with the opportunity to bring Eye-Net's technology which we strongly believe in -- a secure mobility solution dedicated to the prevention of accidents and saving lives," said Rodrigo Santos, Vice President of Innovation and Technology at WebSIA.

"We are excited to expand our activities to Latin America and specifically in Sao Paulo, Brazil's most densely populated and technologically advanced region. Sao Paulo's state government recently announced a new program aimed at accelerating smart city initiatives in the areas of infrastructure and transportation in its municipalities. Integrating our solution into different smart city projects in this city of 12 million people may help us to achieve a critical mass of Eye-Net Protect users in a defined area and increase the chances of preventing accidents and saving lives. Through our partnership with WebSIA, we hope to further expand into Latin America in the future and extend our market penetration," said Dror Elbaz, COO and Deputy CEO of Eye-Net Mobile.

Eye-Net(tm) Protect is an intuitive and easy-to-use mobile application that provides real-time pre-collision alerts to drivers and vulnerable road users. The Eye-Net(tm) solution suite enhances road safety and situational awareness for all road users in the urban mobility environment by incorporating cutting-edge AI technology and advanced analytics.

For more information about Eye-Net Mobile, please visit www.eyenet-mobile.com, or follow the Company's LinkedIn page, Eye-Net Mobile; Twitter, @EyeNetMobile1; and Instagram channel, Eyenetmobile1, the contents of which are not incorporated into this press release.