SOURCE: ObjectVideo, Inc.

ObjectVideo, Inc.

May 17, 2011 04:00 ET

With Patent License Agreement, ObjectVideo and Mirasys Partner to Drive Innovative Video Content Analysis-Enabled Solutions

Multi-Faceted Partnership Begins With Patent Licensing Agreement

RESTON, VA and HELSINKI, FINLAND and BIRMINGHAM, UNITED KINGDOM--(Marketwire - May 17, 2011) - ObjectVideo®, Inc. and Mirasys Ltd, today announced that they have entered into a patent license agreement. The licensee, Mirasys, is now able to sell network video recorders (NVRs) that include functionality covered by ObjectVideo patents, as well as certain video management software applications which are sold alongside NVRs as a part of an end-to-end surveillance solution. This worldwide, non-transferable, non-exclusive, royalty-bearing agreement allows Mirasys to offer more effective solutions to its customers while still complying with certain patents held by ObjectVideo.

The need for patents to protect video content analysis (VCA) technology innovations has increased as new products and solutions enter the market. IMS Research highlighted in its 'Trends for 2011' report that VCA will be a key growth area in 2011, particularly in industries outside of security such as automotive, defence and medical(1). As such, vendors and manufacturers in this area are entering into patent agreements to ensure that companies that supply innovation to the market are appropriately compensated, while also driving the healthy competition that leads to benefits at the customer level. This agreement is also of key benefit to Mirasys' channel partners, who are now assured that Mirasys solutions comply with all patent licensing requirements.

"We are extremely excited that our Open Video analytics platform is being recognised as an industry-leading initiative, and are very much looking forward to be working closely with ObjectVideo -- the industry leader, which Mirasys considers to have one of the strongest innovation and patent portfolios in the market," said Jukka Riivari, chief executive officer at Mirasys. "We see this as a multi-faceted relationship which is set to evolve throughout 2011, both through this patent licensing agreement, and through future product announcements, which will provide Mirasys customers with VCA software solutions which are at the very forefront of industry innovation."

To protect the intellectual property associated with its VCA products, ObjectVideo has developed a strong patent portfolio over the past 10 years. By entering into this patent agreement, Mirasys will be able to offer more effective solutions to its own customers by enabling them to take full advantage of VCA capabilities, while protecting them from possible patent infringements. This strengthens Mirasys' competitive position while allowing ObjectVideo to realise the value of its innovation and product development.

"We are very pleased to work with Mirasys as a new licensee of our intellectual property portfolio," said Raul Fernandez, CEO and chairman of ObjectVideo. "With the signing of this agreement, we continue the build-out of the patent licensing program we launched eighteen months ago to protect the inventions and innovations in which ObjectVideo has invested for more than 10 years. Mirasys recognises the value of this portfolio, and will be able to provide full technology and patent licensing to all of their valued customers."

(1) "Trends for 2011: Video Surveillance Trends for the Year Ahead" -- Alastair Hayfield, Niall Jenkins, Gary Wong and William Rhodes; 2011

About ObjectVideo
ObjectVideo is the world's leader in intelligent video software, utilized by organizations worldwide to enhance security, streamline operations and provide business intelligence. ObjectVideo's flexible intelligent software can be easily and effectively deployed anywhere within a video system and is available to market through leading manufacturers as a high-value ingredient. The Company is well-resourced, has an experienced leadership team and maintains a partner network of more than 70 manufacturers and technology providers around the world. To stay up-to-date on ObjectVideo news, please visit www.objectvideo.com

About Mirasys Ltd
Mirasys Ltd is one of the world's leading providers of open platform digital CCTV and video surveillance solutions. Headquartered in Helsinki, Finland with offices in Amsterdam, Bangkok, Barcelona, Helsinki, Frankfurt, Johannesburg, London, Milan, Paris, Stockholm and Washington, it provides innovative security solutions that manage over 500,000 cameras around the world. Mirasys flagship products, NVR Pro and NVR Enterprise, protect banks, retail outlets, schools, cultural and heritage sites and government facilities.

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