Gentex Invests In Thermal Camera Maker ADASKY; Terms Not Disclosed

Gentex Corporation GNTX has closed an agreement with thermal camera maker ADASKY as the lead investor in a Series B financing round. The financial details of the investment were not disclosed.
ADASKY develops and manufactures intelligent, high-resolution thermal sensing systems (LWIR) for vehicle safety and perception applications and smart city roadway solutions.
Gentex has also established a commercial, engineering, and manufacturing collaboration agreement to help bring ADASKY's proprietary technology to market.
The agreement will help secure the transition of ADASKY from an early-growth company to a global player in automotive thermal sensing.
"Over the last few years, we have been investing heavily into our sensing capabilities and the ADASKY technology was a great fit to complement our existing suite of sensing products," said Gentex President and CEO, Steve Downing.
Price Action: GNTX shares are trading higher by 1.21% at $27.92 on the last check Monday.