We are very excited about this cross-licensing agreement for the technology and business value that it will provide to our sensor product customers.
Houston, Texas (PRWEB) December 08, 2015
Visual Intelligence LP announced today it has entered into a patent cross-licensing agreement with Teledyne Optech, Inc. and its affiliates. Terms of the transaction were not disclosed, but the agreement resolved all outstanding litigation between the companies and their affiliates.
Headquartered in Houston, Texas, Visual Intelligence LP is an industry-leading software and sensor technology company that, based on its iOne® Software Sensor Tool Kit Architecture or iOne STKA™, delivers world-class geoimaging solutions for airborne, UAS and mobile/handheld applications. The company has a rich history of industry innovations, numerous patents, the USGS Digital Aerial Sensor Type Certification, and the Geospatial Forum World Technology Innovation in Sensors Award for its iOne STKA. In the cross-licensing agreement, Visual Intelligence is licensing its current patent portfolio to Teledyne Optech and its affiliates. The licensed Visual Intelligence patents include the Vehicle Based Data Collection and Processing System (USP 7,127,348), Co-mounting and Co-Registration of Sensors CoCo® (USP 7,725,258), its “cross-eyed” array technology ARCA® (USP 7,893,957), and System for Mosaicing Digital Ortho Images (USP 6,928,194) among others.
Headquartered in Kiln, Mississippi, Teledyne Optech, together with its Canada-based parent company, is a leader in advanced laser-based survey and digital imaging instrumentation. Teledyne Optech provides advanced light detection and ranging (LIDAR) systems used in airborne mapping and laser bathymetry, as well as mobile mapping and terrestrial imaging. Teledyne Optech’s imaging and mapping systems are used by a broad range of global customers engaged in the energy, natural resources and infrastructure industries, as well as government customers. In the cross-licensing agreement, Teledyne Optech and its affiliates are licensing an equivalent number of patents to Visual Intelligence and its affiliates. The licensed patents include Removable Shutter for a Camera (USP 7,899,311) among others.
“We are very excited about this cross-licensing agreement for the technology and business value that it will provide to our sensor product customers as well as the additions it brings to the innovation award-winning iOne STKA software technology foundation,” said Dr. Armando Guevara, Chief Executive Officer of Visual Intelligence.
Forward-Looking Statements Cautionary Notice
This press release contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995, relating to a licensing agreement and product releases. Actual results could differ materially from these forward-looking statements. Many factors, including market and economic conditions, could change anticipated results.
Contact: Judy Duncan
Phone: (713) 917-8300