SAN JOSE, Calif., Sept. 24, 2012 /PRNewswire/ -- ActiveVideo Networks today announced that it has resolved its ongoing patent dispute with Verizon Communications (NYSE: VZ).
"After the Federal Circuit's decision affirming the validity of our patents and the jury verdict against Verizon, we are happy to announce that ActiveVideo has settled the dispute with Verizon," said Jeff Miller, president and CEO of ActiveVideo Networks. "While the terms of the agreement are confidential, we can confirm that the parties agreed to cross-license their patents, agreed not to sue each other for a period of years, and Verizon agreed to pay the $260 million previously ordered by the district court and an additional unspecified amount of money. In the end our technology and its value have been recognized."
About ActiveVideo Networks
ActiveVideo Networks™ has created CloudTV™, a virtual set-top box platform that enables the development and streaming of rich Navigation, Advanced Guides and TV Content to any set-top box, CI Plus television or connected CE device. Deployed in approximately 10 million homes, CloudTV is a low-bandwidth, low-latency, high-scalability solution that allows unequalled time-to-market speed and cost-effectiveness in the deployment of new television experiences. The CloudTV approach of placing the intelligence in the network, not the device, powers an open development and publishing environment for content creators, service providers, and CE manufacturers to quickly and easily create new television experiences for their viewers. ActiveVideo Networks is based in the heart of Silicon Valley, with offices in Los Angeles and Hilversum, the Netherlands. For more information, visit www.activevideo.com; find us at www.facebook.com/ActiveVideoNetworks; follow us at www.twitter.com/activevideo.
SOURCE ActiveVideo Networks