Imsys initiates collaboration for radar applications.
Imsys AB and My-Konsult System AB have today signed a letter of intent to evaluate the conditions for cooperation. My-Konsult System AB is active in advanced military systems and supplies integrated systems in radar technology. The preliminary intention for the parties is to evaluate each other's know-how and technology portfolios with the aim of cooperation.
Imsys and My-Konsult are both high-tech companies with cutting-edge expertise in two knowledge intense areas; microprocessors for AI and radar signal processing. The companies have decided to study opportunities in joint development of software solutions for radar signals applying Artificial Intelligence (AI) for use in radar sensors. Such device is a future solution for the automotive industry. The purpose is to develop a software solution adapted to Imsys microprocessor architecture.
- We perceive radar as the future means for monitoring movements in vehicles, says Magnus Stuart, CEO of Imsys.
Radar offers generally more accurate information to the vehicles driving information system. Radar has potential to provide increased safety through accuracy of detail in monitoring both inside vehicles and externally. With Imsys' low-energy, high-efficiency microprocessor and in My-Konsult radar expertise, we expect to be able to create software solutions which through AI refine this information.
We also intend to collaborate on customer projects together in these areas, says Anders Grenstad, CEO of Scandinavian Astor Technologies AB, which is the parent company of My-Konsult. Anders Grenstad is retired Rear admiral of the Swedish Navy.
Together, we have identified that there is a demand for AI in radar, especially for solutions in the form of software, and therefore see that there is a gap in the market that wants to fill, Magnus Stuart continues.
Imsys processors are impressive. They have high performance and low energy consumption, which is why My-Konsult wants to evaluate them for use in our advanced radar interference systems, Anders Grenstad concludes.
This press message is a translation from the original which was published in Swedish, prior to this English version. In any and all legal considerations, the press message in Swedish serves as the company's official version.
The information in this press message does not constitute an offer to acquire, subscribe for, or otherwise trade in shares or other securities in Imsys AB. No action has been taken and no action will be taken to allow an offer to the public in any jurisdiction other than Sweden. The offer is not aimed at persons domiciled in the USA, Australia, New Zealand, Hong Kong, Japan, Canada, Switzerland, Singapore, South Africa or in any other jurisdiction where participation would require a prospectus, registration or other measures than those provided by Swedish law. The information in this press release may not be published, published or distributed, either directly or indirectly, in or to the United States (including its territories and provinces, any U.S. state, and District of Columbia).
For more information, please contact:
Magnus Stuart, CEO [email protected] +46 706 211 350
IMSYS IN SHORT
Imsys AB (publ) is a Swedish based high tech microprocessor company with focus on AI, founded in 1981. The company is a lead designer and developer of high performance, low energy consumption, flexible microprocessor solutions for AI applications. Imsys ALICE technology offers advantages in EDGE AI applications for automotive, security, computer centers, 5G mobile communication, block-chain and image recognition.
The company's shares are listed on NGM SME market
Göteborg Corporate Finance serves as Imsys appointed mentor and is available on telephone +46 31 13 82 30.
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Imsys business continues its positive development and direction in accordance to plan.
- Commercial launch of product IM4000 scheduled for June 2021!
- Two patent applications ready and scheduled for registration in May 2021!
- External evaluation of Alice design has received green light for next step!
Imsys verksamhet fortsätter att utvecklas i positiv riktning enligt plan.
- Lanseringen av IM4000 sker i juni 2021!
- Två patentansökningar lämnas in under maj 2021!
- Extern utvärdering av Alice har givit godkänt - och grönt ljus för nästa steg!
A March letter reporting business to develop positively. Imsys attracting new shareholders and the share price is in rising. Imsys' internal evaluations indicating that our technology, ALICE, is competitive in a market that is expected to reach sales volumes of USD 5 billion by 2025. IM4000 is approaching its launch and may start generating revenue soon.
Imsys verksamheten har utvecklats positivt under mars. Bolaget får nya aktieägare och aktiekursen stiger. Imsys interna utvärderingar ser att vår teknik, ALICE, är konkurrenskraftig på en marknad som förutses omsätta 5 miljarder USD 2025. IM4000 närmar sig lansering och kan börja generera intäkter inom kort.
ICES today, in its Newsletter for 2021 presents a seminar series aimed at its member companies called "Empowering AI at the EDGE". The seminar series will be conducted in the spring of 2021 in collaboration with Imsys AB. Participants are senior leaders in CTO position, from sixteen of ICES member companies.
At the workshop on June 2, Imsys will present its AI accelerator ALICE and participants will during this workshop be given opportunities to evaluate four AI applications together with IMSYS.
ICES presenterar idag en seminarieserie riktad till sina medlemsföretag kallad "Empowering AI at the EDGE". Seminarieserien genomförs under våren 2021 i samarbete med Imsys AB. Deltagare är personer i ledande ställning, CTO, från 16 av ICES medlemsföretag.
Vid en workshop den 2 juni presenteras Imsys AI accelerator ALICE och deltagarna ges därefter möjligheter att tillsammans med IMSYS utvärdera fyra AI applikationer.
Under rapportperioden ökade intresset från kunder för Imsys lösningar och teknik. Samarbete inom avancerade radarapplikationer samt satsning på Imsys internationella lansering är strategiskt viktiga steg framåt.