Australian Company gains RoadMetric's Israeli cutting edge urban mobility solutions using video analytics software and an AI platform.
JERUSALEM, Israel and TORONTO, Dec. 8, 2020 /PRNewswire/ -- RoadMetric Ltd's controlling shareholder, Toronto-based Rabbi David Hofstedter announced the recent sale of the company to Redflex Traffic Systems, Inc., an Australian-based company specializing in intelligent traffic management solutions. The purchase accelerates Redflex's entry into AI and computer vision to enhance and expand its solutions with development work to continue in Israel. The selling price was not disclosed.
Mark Talbot, Group Chief Executive Officer of Redflex Holdings Limited of South Melbourne, Australia said, "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. We will also be able to enhance our market leading solutions with the fusion of radar and video analytics technology. Most importantly, RoadMetric brings solutions that are market ready today, as well as a platform we can leverage to meet growing demand for more intelligent roadways."
Founded in 2007, RoadMetric is recognized as a technology leader in the design of machine vision analytics for mobile video-based solutions that utilize AI, to be deployed by communities and law enforcement. The acquisition includes RoadMetric's AI platform which is supported by seven granted and eight pending patents. RoadMetric, headquartered in Jerusalem, Israel, provides Redflex with ready now solutions to expand its pipeline of new opportunities. The agreement also includes the hiring of key RoadMetric personnel with advanced degrees in computer vision, research and development, electronics and software engineering.
RoadMetric's Rabbi David Hofstedter is a Toronto, Canada-based entrepreneur, philanthropist and real estate developer. He is the CEO of DAVPART INC. Israelis also know Rabbi Hofstedter as the founder and head of The Dirshu Organization, providing scholarships to encourage and excel in Torah study.
"We established RoadMetric to help save human life. I am pleased that our initial vision will continue and flourish with the new ownership," said Hofstedter. "We developed technology to increase safety, security and save lives. That commitment is embedded in our corporate culture and is shared by the software developers and the company's management under CEO Herbert Zlotogorski. Our team has created outstanding innovations for a global marketplace over the past 13 years."
This announcement aligns well with Redflex's core values of saving lives, saving time and saving the environment, and particularly with the goals of Vision Zero; the global effort to reduce motor vehicle crashes, and ultimately eliminate fatalities altogether. Deploying RoadMetric's machine learning software and AI platform will allow customers to actively and cost effectively manage their roadways, creating safer and less congested lanes.
Redflex has earned contracts throughout the United States, Canada, the United Kingdom, Europe and Australia based in part, on the global recognition that automated enforcement technology drives traffic compliance and compliance saves lives, reduces congestion and lowers greenhouse gas emissions. Redflex Group CEO Talbot, predicts that the addition of RoadMetric's capabilities will be transformational for clients. "This was more than just an opportunity to acquire a company.
It's always been part of our plan to grow Redflex as an intelligent transportation organization. Paired with our HALO Edge sensors and Alcyon back office platform, RoadMetric's AI will give customers an ability to manage unprecedented levels of data and to improve system awareness and accuracy as they transition into a fully integrated smart cities world," he said.
About RoadMetric Ltd. (www.roadmetric.com)
Founded in 2007 in Jerusalem, Israel, RoadMetric Ltd. is a technology company dedicated to revolutionizing traffic law enforcement with advanced video technologies and computer vision. A global leader in intelligent multi-media surveillance analysis and real-time applications for mobile law enforcement, RoadMetric provides dedicated, first class customer service with a team of veteran technology and business professionals with an accumulated 70 years of experience in video system integration and deployment projects.
About Redflex (https://redflex.com)
During the past 25 years, Redflex has established itself as a world leader in developing and implementing intelligent traffic management products and services which are sold and managed in Asia Pacific, North America, the United Kingdom, Europe and Middle East regions. Redflex develops, manufactures and operates a wide range of platform-based solutions all utilizing advanced sensor and image capture technologies enabling active management of state and local motorways.
The Redflex Group runs its own systems engineering operations, system integration technologies and innovation center for research and development. With a continuous program of product development, Redflex has been helping to improve roadway safety, alleviate congestion and reduce the harmful impacts of vehicle emissions.
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SOURCE RoadMetric Ltd.