Seeing Machines Limited (AIM:SEE) acquired Asaphus Vision GmbH from Valeo SE (ENXTPA:FR) for $6 million on July 8, 2024. The transaction to acquire Asaphus is comprised of a fixed amount of $6 million, payable in two components. The first component relates to a cash payment of $2 million, payable in two tranches, the first $1 million on signing and the next $1 million on the first anniversary of the Agreement. The remaining component of $4 million is payable on meeting certain business outcomes, the remaining unpaid portion of the $4 million, if any, will be due on the fifth Anniversary. In the year 2023, Acquisition of Asaphus provides Seeing Machines with unique intellectual properties, a berlin office and material boost in AI and Machine Learning capabilities. Asaphus Vision GmbH reported a profit of $0.04 million. Alex Price, Fred Walsh, Ben Good of Stifel Nicolaus Europe Limited acted as financial advisor to Seeing Machines Limited.

Seeing Machines Limited (AIM:SEE) completed the acquisition of Asaphus Vision GmbH from Valeo SE (ENXTPA:FR) on July 8, 2024.