Foresight evaluates expansion into AI, cybersecurity and data centers
Foresight Autonomous Holdings said the review is exploratory and that no decision or timetable has been set.
Foresight Autonomous Holdings Ltd. said on Aug. 21 that it is evaluating a possible expansion into technology sectors including AI-based technologies, cybersecurity and data centers.
The company said the review is exploratory and that it has not made a decision on any specific market or transaction. Foresight also said it has not set a timetable for completing the evaluation.
In the release, Foresight said its technology platforms are used or can be applied in automotive, defense, autonomous driving, agriculture, heavy industrial equipment and unmanned aerial vehicle markets.
Foresight said any expansion could come through a possible acquisition, but it did not identify a target or provide details on how such a move might be structured. The company said it will continue developing its existing business activities while it considers opportunities.
The release described Foresight as operating through wholly owned subsidiaries Foresight Automotive Ltd., Foresight Changzhou Automotive Ltd. and Eye-Net Mobile Ltd. It said Eye-Net develops vehicle-to-everything collision-prevention and smart automotive systems using AI, advanced analytics and cellular networks to deliver real-time pre-collision alerts.
The company issued the statement from Ness Ziona, Israel, and said its shares trade on Nasdaq and the Tel Aviv Stock Exchange under the ticker FRSX. The release also included standard forward-looking statement language, saying results may differ materially from what is described and that Foresight does not undertake to update the statements.
Foresight also said the forward-looking statements in the release were made solely by the company and do not constitute statements or projections of VisionWave Holdings, Inc.
Foresight said the evaluation is ongoing, with no decision made and no completion date set.
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