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SenSen Networks directors support AI software-based strategy with on-market purchases

Last month, SenSen won a $2.5 million contract with the City of Las Vegas for the furnishing, installation and support of a complete Licence Plate Recognition System for the city’s Parking Services Division.

SenSen Networks Ltd - SenSen Networks directors support AI software-based strategy with on-market purchases
The company also completed the deployment of road safety cameras in NSW

Sensen Networks Ltd (ASX:SNS) directors are continuing to support the smart cities and AI software solutions provider with more on-market share purchases.

Executive chairman & CEO Subhash Challa purchased 250,000 shares for $24,676 while executive director David Smith purchased 50,000 shares for $4,900.

Challa now owns about 79.7 million Sensen shares while Smith has increased his stake to ~11.19 million shares.

Las Vegas contract

Last month, SenSen won a $2.5 million contract with the City of Las Vegas for the furnishing, installation and support of a complete Licence Plate Recognition System for the city’s Parking Services Division.

SenSen’s proprietary AI and video analytics software won the competitive tender process, showcasing Gemineye, a smartphone-based AI solution, and SenFORCE, a fully automated and mobile by-law enforcement solution.

Road safety cameras in NSW

The company has completed the deployment of road safety cameras in NSW after receiving orders worth approximately $614,000 for the 2020 financial year from Transport for NSW (TfNSW).

These cameras are powered by SenSen’s AI software to measure and enforce vehicle average speeds between designated locations.

 

Quick facts: SenSen Networks Ltd

Price: 0.099 AUD

ASX:SNS
Market: ASX
Market Cap: $44.61 m
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SenSen Networks look to attract more U.S. investors by listing on the OTCQB...

SenSen Networks (ASX: SNS-OTCQB: SNNSF) CEO Subhash Challa joined Steve Darling from Proactive to share details about the company that uses their technology to bring innovation and automation to cities around the world. Challa discusses a recent contract they have signed with an Australian...

on 15/9/20

2 min read