JERUSALEM (dpa-AFX) - On Wednesday, Odysight.ai Inc. (ODYS) announced that it has received a purchase order of approximately $0.3 million from Elbit Systems LTD, on behalf of Israeli Ministry of Defense, to expand Odysight's operational portfolio and wide deployment to Israel Defense Forces.
The purchase order was to integrate Odysight.ai's computer vision-based Prognostics and Health Management system onto several platforms.
Under the order, the company's system will monitor several safety-critical components to detect developing faults before they escalate to safety events.
The aim is to increase platform availability, extend service life and make the military even more prepared for operations in an environment of heightened operational tempo and constrained sustainment budgets.
In the pre-market activity on the Nasdaq, the shares for Odysight.ai were trading 1.68 percent higher at $4.2504, after closing Tuesday's regular trading 0.24 percent down.
Meanwhile, the pre-market shares for Elbit Systems were trading 1.04 percent higher.
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