Global Sourcing Spotlight: How Global Sourcing Drives Innovation
One World, One Industry: IPC APEX EXPO 2025 Marks a Special Anniversary Year
Nolan’s Notes: Your Golden Ticket
Foresight and RH Electronics to Join Forces for a Strategic Alliance
December 17, 2018 | Business WireEstimated reading time: 1 minute
Foresight Autonomous Holdings Ltd. has signed a non-binding development and investment agreement with RH Electronics Ltd., a primary contractor in the manufacturing and assembly of electronic systems.
The agreement covers the terms of RH’s engagement, directly and/or through its approved contractor, Tonson Labs, for a multi-phase project to develop chip-based FPGA and ASIC solutions for QuadSight, Foresight’s four-camera vision system. Initially, RH will lay the infrastructure for an FPGA-board platform. Following completion of phase 1 and successful pass of acceptance tests, RH is planned to proceed towards development and manufacturing of an ASIC chip for the QuadSight system.
The parties are targeting to enter, within two months, into a binding agreement based on the principles of the initial non-binding agreement, pursuant to which the parties will determine the minimal quantities of QuadSight production units, and the commercial terms of production. In addition, under such binding agreement RH will receive a “right of first refusal” for the manufacturing of QuadSight systems and will prepare the infrastructure for such manufacturing facilities.
In addition, RH plans to purchase from Foresight, pursuant to the final binding agreement, approximately 1% of its issued and outstanding share capital, in total consideration of NIS 3,700,000, or NIS 3.00 per ordinary share, representing an 89% premium over the share market price.
“We are very excited about this important strategic alliance with RH that aims to enable us to achieve important future technological milestones,” said CEO of Foresight, Haim Siboni. “RH’s intended investment at a premium over the share market price marks a significant show of confidence in Foresight’s technology. RH’s engineering, developing and manufacturing capabilities are of great value to Foresight, making them an ideal partner for our future roadmap.”
“We believe in Foresight, its technology and products,” said chairman of the board of RH, Yacov Rozenberg. “Having the opportunity to collaborate with Foresight allows us to step into the exciting world of automotive. This agreement is expected to give RH exclusive rights to new production lines that will surely generate growth for company.”
Share on:
Suggested Items
Technica USA Celebrates 40 Years of Excellence in Electronics Manufacturing
03/13/2025 | Technica USATechnica USA, a leading provider of materials, equipment, installation, and services for the printed circuit board (PCB) fabrication, PCB Assembly, substrates, MEMS, and semiconductor industries, proudly announces its 40th anniversary in 2025.
TCT Circuit Supply and Electra Polymers Announce New Strategic Partnership
03/12/2025 | Electra Polymers LtdTCT Circuit Supply (TCS) is excited to announce a new strategic partnership with Electra Polymers, a global leader in advanced specialty polymer products
Scanfil Signs Agreement with Leardal Medical for Malaysian Factory
03/12/2025 | ScanfilLaerdal Medical and Scanfil have signed a framework agreement for manufacturing at Scanfil’s newly acquired Malaysian factory in Johor Bahru. Scanfil announced an investment of EUR 4.3 million in the factory in January to meet its high customer demand.
The Test Connection Inc. Promotes Melanie Rutkauskas to Director of Operations for The Training Connection, LLC
03/11/2025 | The Test Connection Inc.The Test Connection Inc. (TTCI), a leading provider of electronic test and manufacturing solutions, is pleased to announce the promotion of Melanie Rutkauskas to Director of Operations for The Training Connection, LLC (TTC-LLC). With her extensive background in operations management, accounting, and customer relations, Melanie brings a wealth of experience and leadership to her new role.
Critical Manufacturing to Show You Might Need a New MES for Making Industry 4.0 A Reality at IPC APEX EXPO 2025
03/10/2025 | Critical ManufacturingCritical Manufacturing, a leader in advanced Manufacturing Execution Systems (MES) and a subsidiary of ASMPT, will show visitors to IPC APEX EXPO 2025 that the company’s MES - complete with extensive features specific to the electronics industry - can serve as a true Industry 4.0 platform. Any electronics manufacturer looking to turn its vision of digital transformation from concept into reality should prioritize visiting Critical Manufacturing at ASMPT SMT Booth 1813.