Israeli traffic tech company acquired by Australian RedFlex

Israel-based RoadMetric, a traffic technology company, was acquired by Australian Redflex, a company that develops and implements intelligent traffic management solutions. The companies did not disclose the price of the sale. RoadMetric focuses on using video technologies and computer vision to improve tools for enforcement of transportation laws. The company works to analyze the use of multimedia devices during driving.RoadMetric was founded by Rabbi David Hofstedter who is the CEO of construction company Davpart Inc. and active in Torah organization Dirshu. “We established RoadMetric to develop technology which would improve safety and security and help save lives,” said Hofstedter. “That commitment is embedded in our corporate culture and is shared by us all.”This synergy was fertile ground for our team creating incredible and outstanding innovations for a global marketplace over the past 13 years. We are delighted about our cooperation with Redflex – the world leader in everything connected with the future of smart transportation and artificial intelligence,” Hofstedter went on to say of the acquisition.The acquisition will increase RedFlex’s use of AI technologies and computer vision. RedFlex utilizes advanced sensor and image capture technologies to develop and operate platform-based solutions to traffic management. Under the acquisition, RedFlex will continue to hire RoadMetric staff in Israel and multiple RoadMetric staff will move to RedFlex. Source

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