SOURCE: Tyco Retail Solutions
NEUHAUSEN, SWITZERLAND--(Marketwired - Jan 8, 2014) - Tyco Retail Solutions (www.tycoretailsolutions.com), a leading provider of retail performance and security solutions, today announced that it has entered into a patent license agreement with Round Rock Research, LLC regarding RFID solutions.
Tyco Retail Solutions provides RFID-based Inventory Intelligence solutions, which feature Sensormatic RFID readers, antennas and tags, and TrueVUE software offerings. The agreement provides a worldwide license to Round Rock's RFID patents that allows Tyco and its customers to continue to deploy innovative RFID solutions. The signing of this agreement with Round Rock is an important step in advancing these solutions globally.
Summary of Key Facts:
- Round Rock filed lawsuits in January 2012, against a number of companies -- including some of Tyco Retail Solutions' retail customers -- alleging their RFID solutions infringed Round Rock's RFID patents.
- RFID solutions can greatly improve Inventory Management and process efficiency, thereby driving substantial operational improvements. However, this type of litigation threatened to stall the adoption of RFID solutions in retail.
- Tyco Retail Solutions has reached a business resolution with Round Rock that covers its complete RFID portfolio of products, providing a mechanism for customers to deploy RFID solutions free of the Round Rock patent assertions.
- This licensing arrangement with Round Rock is non-exclusive and royalty bearing, which allows other RFID reader and tag providers the prospect to achieve similar resolutions, thereby making a host of options available to customers. Additionally the license allows customers to use readers purchased from Tyco with tags that are purchased from Tyco or another licensed supplier.
"For nearly 50 years, retailers have depended on Tyco products," said Nancy Chisholm, Vice President and General Manager, Tyco Retail Solutions. "Tyco continues to invest heavily in research and development to advance both hardware and software products. Our commitment to technology innovation is the cornerstone of our business, with RFID-based Inventory Intelligence solutions being a primary area of focus. This agreement with Round Rock offers our retail customers a clear path to deploying our new RFID-based solutions, free of Round Rock patent assertions and without business interruption from potential litigation."
About Tyco Retail Solutions
Tyco Retail Solutions is a leading provider of integrated retail performance and security solutions, deployed today at more than 80 percent of the world's top 200 retailers. Customers range from single-store boutiques to global retail enterprises. Operating in more than 70 countries worldwide, Tyco Retail Solutions provides retailers with real-time visibility to their inventory and assets to improve operations, optimize profitability, and create memorable shopper experiences.
The Tyco Retail Solutions portfolio for retailers is sold direct through Tyco businesses and authorized business partners around the world. For more information, please visit TycoRetailSolutions.com or follow us on LinkedIn, Twitter, and our YouTube channel.
TYCO, SENSORMATIC, TRUEVUE and the product names listed in this document are marks and/or registered marks. Unauthorized use is strictly prohibited.