RESTON, Virginia, 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.
ObjectVideo Media Relations: Anna Jensen; (202) 263-5864; email@example.com
SOURCE ObjectVideo, Inc.