TOKYO, April 26, 2016 /PRNewswire/ -- i4drive, an Israeli-based company specializing in Advanced Driver Assistance Systems (ADAS) announced today that they are partnering with Ricoh Company, Ltd. (OTCMKTS: RICOY), a global leader in electronics manufacturing, to develop special display equipment for automotive use. i4drive technology will be integrated into Ricoh's high level optics display to increase driver safety and enhance the driving experience.
This collaboration will be carried out as part of the Japan-Israel Cooperation Program which is supported by NEDO (New Energy and Industrial Technology Development Organization in Japan) and OCS (Office of the Chief Scientist of Israel).
The display equipment will be available for car manufacturers and aftermarket vehicles. In addition to driver safety, it will offer a wide range of capabilities, including in-vehicle infotainment, assistance and connectivity. The market for advanced driver assistance systems (ADAS) has grown substantially in recent years and is expected to reach USD 60 billion by 2020.
"The collaboration with Ricoh is another important step for i4drive in expanding its product offering to new markets and industries. We welcome the cooperation between the two companies, "stated Adi Goren, Founder and CEO of i4drive.
"We are very pleased to partner with i4drive," commented Dr. Teruaki Mitsuya, Executive General Manager of Imaging Core Technology at Ricoh. "With their technology we can deliver powerful products to the automotive industry. I am confident that this cooperation will bear fruits."
Ricoh is a global technology company that has been transforming the way people work for more than 80 years. Under its corporate tagline – imagine. change. – Ricoh continues to empower companies and individuals with services and technologies that inspire innovation, enhance sustainability and boost business growth. These include document management systems, IT services, production print solutions, digital cameras, and industrial systems.
Headquartered in Tokyo, Ricoh Group operates in over 190 countries. In the financial year ending March 2015, Ricoh Group had worldwide sales of 2,231 billion yen (approx. 18.5 billion USD).
i4drive (www.i4drive.com) develops computer vision and machine learning technology for automotive, fleet management and insurance telematics applications. The proprietary software-based algorithms can be seamlessly integrated to standard or dedicated cameras, sensors and hardware platforms. i4drive's wide range of products offer driver safety, assistance and analytics to OEMs and Tier 1 suppliers, fleets, mobile operators and insurers. The company was established in 2014 by Adi Goren, Reuven Ulmansky and David (Dudi) Cohen, Israeli police commissioner (Ret.).