Redflex Traffic Systems, an Australian developer of intelligent traffic management solutions, acquired RoadMetric Ltd.’s brand and intellectual property, including machine vision analytics software and artificial intelligence tools. The acquisition aims to accelerate Redflex’s entry into the AI and computer vision markets.
The acquisition includes RoadMetric’s AI platform, which is supported by seven granted and eight pending patents. The agreement also includes the hiring of key RoadMetric personnel qualified in computer vision, research and development, electronics, and software engineering.
RoadMetric is headquartered in Jerusalem.
“This acquisition will allow us to provide customers with advanced machine vision analytics software and a leading-edge AI platform to address a variety of issues associated with urban mobility, congestion management, and road user charging,” said Mark Talbot, group CEO of Redflex Holdings Ltd.