LONDON--Seeing Machines Ltd. (SEE.LN) said Tuesday it is in advanced negotiations with Caterpillar Inc. (CAT) for Caterpillar to take over responsibility for manufacturing, marketing and sales of Seeing Machines' existing DSS rugged off-road product.

The AIM-listed company with a focus on operator monitoring and intervention sensing technologies and services, added that it will make a further announcement as and when the negotiations are concluded.

The talks represents phase four of the alliance between the two companies announced in May 2013, Seeing Machines said.

Seeing Machine shares at 0720 GMT up 0.13 pence, or 2.63%, at 4.88 pence valuing the company at 46 million pounds ($71.66 million).

-Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

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(END) Dow Jones Newswires

August 18, 2015 03:39 ET (07:39 GMT)

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