BRN 1.80% 54.5¢ brainchip holdings ltd

New partnership

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    AUGUST 05, 2018
    New alliance to boost object search and facial recognition video solutions
    SAN FRANCISCO, Aug. 05, 2018 (GLOBE NEWSWIRE) -- BrainChip Holdings Ltd. (“BrainChip” or the “Company”) (ASX: BRN), the leading neuromorphic computing company, today announced it has entered a strategic partnership with Telesikring, Denmark’s largest Danish-owned installer of security solutions for small, medium and large companies.

    The companies will jointly address the growing needs of law enforcement and end users to efficiently classify suspects fast using the latest award-winning AI powered software platform for object recognition and facial classification – BrainChip Studio. Under the terms of the partnership, Telesikring will agree to promote, install, and support BrainChip’s growing portfolio of AI-powered software and hardware solutions across their existing and new video security customer base.

    The Danish security market, incorporating video surveillance services, is currently valued at DKK 475 million (around US$75 million), according to Statista. The market is expected to grow to DKK 845 million (around US$133 million) by 2022.

    BrainChip’s Director of EMEA Sales, Luis Coello, commented: “Our partnership with Telesikring comes at a pivotal time for BrainChip as we aim to build on the successful launch of BrainChip Studio last year. Securing Telesikring as our first Technical Sales Partner in Scandinavia will help boost BrainChip’s presence in the Scandinavian video surveillance and security industry, which we intend to extend across the region.”

    Morton Dall, Telesikrings Sales Director, commented, “Many of our customers in Denmark and further afield are looking for integrated analytics solutions for video security and surveillance. We believe that AI technology has matured to such a degree that it provides real value to our clients. The partnership with BrainChip allows us to address this growing demand and ensure we can develop specific customer requirements by using BrainChip’s AI-powered software and hardware solutions as part of our overall security and technology platform offering.”

    About BrainChip Holdings Ltd (ASX: BRN)
    BrainChip Holdings Ltd. is a leading provider of neuromorphic computing solutions, a type of artificial intelligence that is inspired by the biology of the human neuron. The Company’s revolutionary new spiking neural network technology can learn autonomously, evolve and associate information just like the human brain. The proprietary technology is fast, completely digital and consumes very low power. The Company provides software and hardware solutions that address the high-performance requirements in civil surveillance, gaming, financial technology, cybersecurity, ADAS, autonomous vehicles, and other advanced vision systems.

    About Telesikring
    Telesikring was founded in 1967 and has grown to be the country's largest Danish-owned security company.
    With offices in Aalborg, Esbjerg, Rødekro, Nakskov and Alleroed, we are a nationwide company, with local presence in each area. We believe that local knowledge is essential in order to offer customized security solutions and appropriate service.
    It is our policy to integrate solutions from the best manufacturers in the world. Suppliers and collaborators are carefully selected based on the company's philosophy to deliver high quality security solutions and provide a high level of service to our customers.
    Long-term customer relationships characterize the company's business, and among the customers you will find some of Denmark's most prominent companies and institutions.

    Company Contact
    Robert Beachler
    [email protected]
    +1 (949) 330-6750

    Investor Relations (US):
    Ryan Benton
    [email protected]
    +1 (949) 330-6750

    Investor Relations (Australia):
    Rod Hinchcliffe
    Media and Capital Partners
    [email protected]
    +61 412 277 377

    Media Contact (US):
    Kerry McClenahan
    Publitek North America
    [email protected]
    +1 (503) 546-1002

    Media Contact (Europe):
    Nayl D’Souza
    [email protected]
    +44 20 3813 6423

    Media Contact(Australia):
    Daniel Paproth
    Media and Capital Partners
    [email protected]
    +61 421 858 982

    Source: BrainChip Holdings Ltd.
    Released August 5, 2018
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