Computer Vision and Gesture Recognition Technology to be Integrated into PreAct’s Complete System for Activity Monitoring, Device Control and Spatial Awareness Portland, OR – January 11, 2023 – PreAct Technologies, the market leader in near-field software-definable flash LiDAR technology, today announced that it has entered into an agreement to acquire Barcelona-based Gestoos, makers of a unique software platform that enables users with no specialized training to quickly generate AI algorithms that address their use cases. The acquisition reinforces PreAct’s leadership in providing the highest performing sensor solutions for automotive, trucking, robotics and other industrial applications. “By marrying a powerful AI algorithm development platform with our best-in-class flash Lidar, we have created a unique environment for our customers to quickly solve difficult use cases. For example, current in-cabin and cargo monitoring solutions were falling well short of delivering the kind of performance OEMs and fleets are looking for. This is a real problem given the changing regulatory environment requiring accurate and stable cabin monitoring,” said Paul Drysch, CEO of PreAct Technologies. “The Gestoos AI development platform comes pre-integrated with our flash Lidar solution and a development environment making AI training tractable by our customers’ own engineers with minimal hand holding. We are excited to welcome the entire Gestoos team into the PreAct family, and even more excited to provide OEMs with real solutions to their most pressing sensor use case problems.” The Gestoos AI development platform is built from the ground up to make AI development approachable. One can think of it as a CAD system for AI developers. The AI platform can be used to train algorithms for any purpose, with an especially large library classifying gestures, human motion, and multiple combinations of humans and objects interacting.¨ When coupled with PreAct’s flash Lidar, algorithm development tasks that once took specialized teams of experts weeks can now be accomplished in a few hours, revolutionizing fields from in-cabin monitoring to automatic door actuation. Gestoos technology is currently being used or evaluated in a variety of applications, including: Activity Monitoring Automotive – Child or pet detection, driver monitoring, occupancy monitoring, behavior based insurance risk rating Public Spaces – Safety in escalators and elevators, behavior monitoring, people counting and tracking Industrial – Worker productivity, industrial safety Spatial Awareness Cargo Logistics – Containers in ports, cargo in trailers, boxes/pallets in warehouses Safety in Industry – Employee safety, safety in factories Gesture Device Control Healthcare – Hospital devices, surgical checklist, patient monitoring Robotics – AGVs, AMRs, and consumer robots Digital Display – Point of sale, virtual assistant, promotional and advertising Consumer Electronics – TVs, laptops and smart devices Automotive – Touch free HMI interfaces “The acquisition of Gestoos is extremely strategic and should provide PreAct with a greater ability to intelligently process sensor data on the edge,” said Jeffrey Hannah Chief Commercial Officer of automotive technology research and consulting firm SBD Automotive. Added Hannah, “this move also broadens PreAct’s IP suite allowing them to become less reliant on system integrators to deliver new applications as well as differentiated software-defined services.” PreAct Technologies will continue to expand its product offering to provide the highest resolution, software-definable, affordable LiDAR solutions to a wide range of industries. In addition to automotive, industries such as healthcare, building maintenance, consumer electronics, robotics and trucking are realizing the power of LiDAR to deliver the kind of monitoring, measurement and data they require. About PreAct Technologies PreAct Technologies is the market leader in near-field software-definable flash LiDAR technology. Its patent-pending suite of sensor technologies provide high resolution, affordable LiDAR solutions to a wide range of industries including automotive, healthcare, ITS, industrial, consumer electronics, robotics and trucking. The firm is headquartered in Portland, Oregon, with offices in Ashburn, Virginia, Rochester, NY and Barcelona Spain. For sales inquiries, please contact email@example.com. For more information, visit www.preact-tech.com.