ObjectVideo, a Virginia-based developer of video analytics software, announced on Wednesday that it has signed a global patent licensing agreement with Tyco Security Products.
According to a statement, the agreement will provide Tyco's American Dynamics business unit with access to the company's portfolio of video analytics patents as it develops its own intelligent video software and hardware solutions.
"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. 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."
Last year, ObjectVideo filed a lawsuit against Bosch, Samsung and Sony, claiming that they infringed upon their technology patents.
"ObjectVideo has been at the forefront of the innovation and invention surrounding video analytics," said ObjectVideo CEO Raul Fernandez in the statement. "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."