Automotive vision systems developer Foresight Autonomous Holdings has signed an agreement to merge all its activities related to the development of Eye-Net accident prevention system into Tamda.

The Eye-Net V2X (vehicle-to-everything) is a cellular-based accident prevention solution that can offer pre-collision alerts in real-time to the vehicles, as well as pedestrians by utilising smartphones and cellular networks.

Under the agreement signed with Tamda and its controlling shareholder Ipax Issues, Foresight will form a new wholly owned subsidiary, to which it will transfer all rights and intellectual property for no consideration.

After closing, it will transfer all share capital of the subsidiary to Tamda against nearly 74.49% of Tamda’s share capital as at the closing date of the transaction.

Subsequently, when the deal closes, Foresight will start working and providing other services as required for the further development of the Eye-Net system.

“The merger is subject to customary closing conditions, including Tamda’s shareholders approval, the Tel Aviv Stock Exchange and certain court approvals.”

The merger is subject to customary closing conditions, including Tamda’s shareholders approval, the Tel Aviv Stock Exchange and certain court approvals.

Foresight recently carried out a multi-user trial of the Eye-Net accident prevention system. 120 Android and iOS users participated in the trial, which included simulating collision scenarios in two different locations under a controlled manner.

One of the scenarios involved two vehicles moving towards each other and the other simulated an accident between a vehicle and a pedestrian.

Foresight claimed that in all of the simulated scenarios, Eye-Net successfully alerted all users beforehand, enabling them to check their speed and brake at appropriate times.

The activity was also streamed in real-time to a control room where the locations of the simulated collisions were displayed on a map.