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Tessera Inc. Subsidiary Zorronet Ltd. Selected in Northern Israel AI Tender for up to $1.3 Million

HLSQ
  • Tessera Defense and Homeland Security Inc. (NYSE: HLSQ) announced that its subsidiary Zorronet Ltd. was selected in a public tender by Eshkol Kinneret Valleys for an AI video analysis system.
  • The agreement establishes a multi-year framework with a maximum aggregate value of approximately $1.3 million (NIS 4 million) across all selected vendors.
  • Zorronet will provide AI-powered video analytics including vehicle and license-plate identification, automated alerts, & integration with existing gate-control systems.
  • The technology is designed to enhance current security infrastructure without requiring wholesale replacement of systems.
  • The framework has an initial term of 36 months with options for two additional 12-month extensions.
  • Participating authorities may issue individual orders under the framework & may conduct additional competitive processes among selected vendors.
  • CEO Idan Wasserman stated the project reflects a shift from standalone analytics to AI-driven security intelligence that interprets events.
  • CEO Michael Oster noted the win builds a major market footprint & expands Tessera's presence in the Israeli market.
  • Tessera provides integrated security solutions connecting detection, intelligence, & response for critical infrastructure applications.
  • Zorronet develops AI-powered operational intelligence connecting cameras, sensors, drones, & IoT devices into a unified real-time operating picture.
  • The press release includes forward-looking statements regarding risks such as potential lack of orders, delayed deployments, & compliance with NYSE listing standards.