RESTON, Va., Dec. 18, 2014
/PRNewswire/ -- ObjectVideo, Inc., a technology and solutions
company, and Avigilon Corporation (TSX: AVO), a leading global
provider of end-to-end security solutions, announced today 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."
ObjectVideo will continue to leverage its deep bench of
technical talent to deliver next generation computer vision
technology to commercial and government clients and invest in its
sixth generation software product.
About ObjectVideo, Inc.
ObjectVideo is a leading
technology and solutions company specializing in video content
analysis. ObjectVideo continues to advance the science of
intelligent video with ongoing research and development in areas
such as intelligent tagging of consumer and commercial video,
machine learning, and mobile video intelligence. To stay up-to-date
on ObjectVideo news, please click HERE.
Media contacts:
ObjectVideo Media Relations:
Anna Jensen; (202) 263-5864;
ajensen@objectvideo.com
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SOURCE ObjectVideo, Inc.