RESTON, Virginia, July 21, 2012 /PRNewswire/ -- On Wednesday, July 18, 2012, ObjectVideo announced the filing of an unopposed motion to terminate Samsung from an ongoing United States International Trade Commission (USITC) investigation. Samsung Techwin received a very limited covenant not to sue on current Samsung products in the United States marketplace. This release provides more detail with respect to the termination of the USITC investigation.
The covenant applied to only three of ObjectVideo's 47 awarded U.S. and international patents. The covenant does not cover the full suite of ObjectVideo patented technology, current or pending. Further, the covenant does not cover any new Samsung products. In short, Samsung does not have a license to any ObjectVideo intellectual property (IP).
"This is a covenant which covers a very small subset of Samsung products as of June 30, 2011. As the case more fully developed, we realized that Samsung actually had very primitive and inaccurate video analytics capabilities," said Raul Fernandez, ObjectVideo CEO. "When Samsung legitimately invents -- or, inevitably finds it is unable to compete with market leaders who have legitimately invented or licensed our IP or our software -- we would welcome having additional business discussions."
In addition to its thriving software business, ObjectVideo has, since the beginning of 2012, won nearly $30M in strategic R&D Services government business and signed portfolio-wide IP license agreements with Sony, Tyco Security and VIVOTEK. Additional IP deals will be announced in the coming months.
About ObjectVideo, Inc.
ObjectVideo is the world's leading innovator of intelligent video software, utilized by organizations worldwide to enhance security, streamline operations and provide business intelligence. ObjectVideo's patented technology can be effectively deployed anywhere within a video system and is available to market through leading providers as a high-value component of the surveillance solution. For more information, please visit www.objectvideo.com.
SOURCE ObjectVideo, Inc.