Israeli startup RoadMetric, which develops AI-powered machine vision analytics for law enforcement, announced that it has been acquired by Australian smart traffic management company, Redflex Traffic Systems. The acquisition arms the Australian company with advanced AI and computer vision capabilities based at RoadMetric’s Jerusalem headquarters turned R&D center. The price has yet to be disclosed.
Enhancing AI capabilities
RoadMetric originally focused on improving mobile video analytics with AI technologies for law enforcement and community deployment. The Israeli AI startup mentions that its proprietary computer vision platform is supported by 7 granted and 8 pending patents.
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.
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."
Loaded with ready now solutions, Redflex can expand its pipeline to new markets and opportunities. 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.
The announcement was led by RoadMetric’s leading shareholder Rabbi David Hofsteder, a Canadian philanthropist. The company was founded in 2007 by Yaniv Alon, and is CEOd by Herbert Zlotogorski. According to company reports, Redflex will strengthen its cast with Israeli computer vision experts, top software engineers, and others.
"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."