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.

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“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.”