ObjectVideo enters into patent licensing agreement With Tyco unit
This agreement provides American Dynamics access to ObjectVideo’s portfolio of video analytics patents as American Dynamics develops and launches its own video analytics software and hardware products.
“ObjectVideo has been at the forefront of the innovation and invention surrounding video analytics,” said Raul Fernandez, CEO of ObjectVideo. “We have developed a highly regarded software product that is in the market today, and for more than a decade, we have invested heavily in R&D. We proactively protected our investment and innovation by filing and being granted a large and growing set of patents around video analytics. We are very pleased to enter into this global IP licensing agreement with an industry leader in the field of video surveillance.”
“Our American Dynamics business is developing a broad range of video analytics-enabled products,” said Warren Brown, vice-president of product management for Tyco Security Products. “As part of our pre-launch process, it was important to ensure that the growth we expect from these products would not be negatively affected by legal issues,” continued Brown. “This agreement with ObjectVideo gives us that certainty, allowing us to focus on the more important tasks of building great products that delight our customers.”