Redflex Finalizes Asset Purchase Agreement for RoadMetric, a Leader in Traffic Management Machine Vision and Artificial Intelligence
Redflex Traffic Systems Pty Ltd, a world leader in developing and implementing intelligent traffic management solutions, today announced its acquisition of RoadMetric Ltd’s brand and intellectual property including advanced machine vision analytics software and leading-edge artificial intelligence (AI) tools. RoadMetric Ltd, headquartered in Jerusalem, Israel, specializes in transportation machine vision, video analytics and AI. The purchase accelerates Redflex’s entry into AI and computer vision to enhance and expand its solutions.
Mark Talbot, Group Chief Executive Officer of Redflex Holdings Limited (pictured above), 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 complement our market leading solutions with the addition of video detection and data analytics. Most importantly, RoadMetric brings market ready solutions and an asset light model we will leverage to meet growing demand for more intelligent roadways.”
Founded in 2007, RoadMetric is widely 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 provides Redflex with ready-now solutions to expand its pipeline of new opportunities. The agreement also includes the hiring of key RoadMetric personnel qualified in computer vision, research and development, electronics and software engineering.
Today’s 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 North America, 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 customers. “This was more than just an opportunity to acquire intellectual property assets. 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 our customers an ability to gather and manage unprecedented levels of data and to improve system awareness and accuracy as they transition into a fully integrated smart cities world,” he said.
Click HERE to listen to Mark Talbot discuss the RoadMetric acquisition.
For additional information on Redflex solutions please visit https://redflex.com.