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Road safety tech group lists on ASX
Maddocks has advised a road safety technology company on its listing on the ASX.
Emma Musgrave
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Firm: Maddocks (Acusensus)
Deal: Acusensus has been advised on an IPO and ASX listing.
Value: Undisclosed
Area: Corporate
Key players: The Maddocks team was led by corporate partner Catherine Merity, with support from special counsel Rosamond Sayer and lawyers Laura Cooke and Danielle Pettit.
Deal significance: According to a statement from Maddocks, Acusensus has developed patented AI camera technology that can detect drivers using their mobile phone, seatbelt compliance, speeding, vehicles driving in closed freeway lanes, unregistered vehicles, and vehicles of interest. The fixed and mobile cameras can operate at night and in almost all weather, generating high-quality images as evidence for enforcement and prosecution purposes.
“Acusensus’ major projects include NSW government contracts for the detection of illegal mobile phone usage and point speed, Queensland government contract for detection of illegal mobile phone usage and seatbelt non-compliance and Mobile Device Detection Cameras Services Agreement with the ACT government,” the firm said.
According to Maddocks, the successful IPO and ASX listing come as part of Acusensus’ ongoing growth plans.
“Acusensus has delivered market-leading solutions, including the world’s first live enforcement camera program to detect drivers illegally using phones while behind the wheel,” lead partner Catherine Merity said.
“The funds raised from the IPO will be used to expand the business globally and to explore solutions to other major road safety challenges such as detection in real time drivers who are impaired by drugs or alcohol.
“We are delighted to have worked with Acusensus over the last few years to help prepare the business for listing and now complete the IPO despite challenging market conditions. We are excited to see how the proceeds of the IPO will further fuel the growth of the business and develop new and improved life-saving technologies.”
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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