Avigilon Acquires ObjectVideo's Entire Patent Portfolio and Licensing Program
ObjectVideo Inc., Reston, Va., and Vancouver-based Avigilon Corporation announced the sale of ObjectVideo's intellectual property and patent licensing program to Avigilon for a cash consideration of $80.3 million.
"From its founding, ObjectVideo has aimed to lead innovation in the world of video analytics, so it is very rewarding to see Avigilon, a global market leader in security, recognize our significant contributions to the field," said Raul Fernandez, chairman and CEO of ObjectVideo. "This transaction marries a deep and highly valuable patent portfolio to the fastest growing solutions provider in the video security industry. The union creates a unique and incredibly well positioned company."