Under this new agreement, Caterpillar will become responsible for manufacturing, marketing and selling Seeing Machines’ existing driver safety system (DSS) off-road product. The two parties will work together to develop new products. Caterpillar will also obtain exclusive distribution rights for Seeing Machines’ Fleet product.

Caterpillar will pay Seeing Machines US$17.5 million over four years plus royalty fees for DSS hardware, software licensing, monitoring and analytics services. Caterpillar will also purchase existing inventory of DSS units from Seeing Machines. Current DSS customer agreements will be transitioned to Caterpillar and supported by Caterpillar dealers. Additional consulting services, system monitoring and data analysis will be offered by Caterpillar Safety Services. 

Ken Kroeger, CEO of Seeing Machines, said: “This is a pivotal moment in the history of Seeing Machines; the realisation of several years of hard work for both companies. Caterpillar is capable of maximising the return on the DSS technology; their reputation, reach, capability and commitment will deliver great outcomes for both companies and for the world’s mining and construction related companies.”