RESTON, Virginia, Aug. 26, 2013 /PRNewswire/ -- ObjectVideo, Inc. announced today that retail business intelligence innovator, InStore Logic, Inc. has agreed to a global license of ObjectVideo's video analytics patents. The patent license provides protection for retailers and global brands using InStore Logic's solution and assurance to investors.
As an innovator in providing In-Store Business Intelligence to retailers and global brands, InStore Logic recognized the importance of joining the fast growing community of Retail Business Intelligence providers who have licensed ObjectVideo's portfolio of video analytics patents. "More and more retailers and global brands want solutions that provide insight into in-store customer/employee behavior," explained Raul Fernandez, Chairman of ObjectVideo. "These solutions use video analytics to provide the data for people counting, queue analysis and customer engagement metrics. InStore Logic recognized that these types of applications require ObjectVideo's patented technologies and we are excited to welcome them as a licensee."
"In building a market leading retail business intelligence solution, we knew we needed to reassure our investors and customers that all patent issues were resolved and that there would be no risk of surprise litigation," emphasized Matt Day, CEO and Founder of InStore Logic. "Negotiating the patent license was straightforward and did not take long. It just made sense."
InStore Logic is the fifteenth company to join ObjectVideo's patent license program. Other video analytics patent licensees include: Panasonic, Sony, Pelco, Bosch, Tyco/American Dynamics, IntelliVision, VidiCore, Aimetis, VideoIQ, 3VR and UDP. ObjectVideo holds 55 US and international patents in the field of video analytics and has another 40+ US and international patents pending.
About ObjectVideo, Inc.
ObjectVideo is a leading innovator in intelligent video solutions with patented video analytics technologies that are licensed and deployed by leading IP video manufacturers around the world. ObjectVideo continues to advance the science of intelligent video with ongoing research and development in areas including intelligent tagging of consumer and commercial video; machine learning; and mobile video intelligence. To stay up-to-date on ObjectVideo news, please click HERE
About InStore Logic, Inc.
InStore Logic, Inc. is an in-store marketing analytics software company. Our SaaS solution analyzes the in-store shopping behavior of consumers in retail stores using video analytics software. We provide retailers, global brands and advertising agencies with behavioral metrics that marketers use to measure marketing effectiveness, optimize efficiency and increase sales. Please click HERE to learn more.
SOURCE ObjectVideo, Inc.