Tyco & ObjectVideo Enter Patent Licensing Agreement
ObjectVideo Inc., Reston, Va., a developer of intelligent video software, signed a global patent licensing agreement with Tyco Security Products' American Dynamics business unit. This agreement provides American Dynamics access to ObjectVideo's portfolio of video analytics patents as American Dynamics develops and launches a wide-range of 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, chief executive officer 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.
“IP video products and solutions are experiencing significant growth on a global scale. Video analytic capabilities are becoming a larger part of those products and solutions,” continued Fernandez. “As manufacturers scale their video analytics offerings, OV can partner with them for software product or IP licensing to provide critical and value-added video analytics capabilities.”
Warren Brown, vice president of product management for Tyco Security Products, said, “Our American Dynamics business is developing a broad range of video analytics-enabled 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.”