-- adds detail, broker comment--
Seeing Machines (LON:SEE) is to work with Korean electronics giant Samsung on the development of face and eye tracking technology in consumer electronics.
A memorandum of understanding (MOU) has been signed that will see the two companies run a collaborative R&D programme to include sharing knowledge, staff and facilities.
The collaboration will focus initially on Samsung’s existing R&D pipeline before broadening into other potential markets.
Seeing Machines added the MOU marks the formalisation of two years of work already and will accelerate the development of the technology and its applications.
Ken Kroeger, Seeing Machines’ chief executive, said he couldn’t think of a better partner for the company than Samsung, as teh Korean company believes eye and head tracking are more powerful human interfaces than touch and voice.
The collaboration will explore how to make that happen and how to turn a camera pointed at the user into an input for the device itself, he added.
Sunkyu Lee, VP of Product Planning at Samsung subsidiary SEMCo said: "SEMCo has been working with Seeing Machines for some time now and recognises their eye tracking algorithms as industry best."
House broker finnCap said Seeing Machines’ strategy is to bring its leading-edge face and eye-tracking technology to its numerous applicable markets by partnering with established global giants in these industries, ensuring immediate credibility and guaranteeing relatively rapid worldwide deployment.
As well as Samsung, partnerships recently have been signed with Caterpillar in the mining industry, the recently announced agreements with EyeTracking in the research field and with tier-1 supplier, Takata, in the automotive OEM market.
Shares rose 14% to 7.89p.