Object Video signs licensing agreement
There was an update today in video analytics provider Object Video’s patent licensing efforts. OV announced today that it has signed a global patent licensing agreement with Tyco Security Products’ American Dynamics business division.
You’ll recall that at ISC West last year, OV announced in April that it was suing Sony, Samsung and Bosch for alleged patent infringement
And, in June, it filed a complaint with the against the same companies with the International Trade Commission. That complaint seeks to bar Bosch, Samsung and Sony from importing and selling products containing software features and functions that allegedly infringe on OV’s patents.
OV CEO Raul Fernandez told me today that he can’t speak about the lawsuit, but he said the agreement with American Dynamics is the first of what he expects to be several similar agreements.
He said after the lawsuit and ITC complaints were filed, OV received “a series of inbound calls from [manufacturers] who wanted to understand the our licensing program.” He said there are “several negotiations ongoing [with manufacturers, but they’re not litigation-based negotiations” rather they’re manufacturers who have approached OV because “they’ve looked inward at their technology to see if there is a technology overlap with some of our patents.” This is OV’s preferred way to “approach licensing discussions but we are prepared to take another [legal] path if necessary.”
Fernandez said that the fact that Tyco is a “multi billion dollar, multi-national, multi-product line company that’s been in business a long time recognizes our innovations .. strengthens our case [for pursuing patent licensing] … it’s terrific for us.”
“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 Mr. 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.”
Asked how business is going, Fernandez said OV, which is privately held, had a good year with growth in its core software business and growth and backlog in its services side.