RESTON, Va., Nov. 14, 2012 /PRNewswire/ -- ObjectVideo, Inc., announced today that it has reached an amicable settlement with Bosch Security Systems, Inc., of Fairport, New York, which includes, among other mutual obligations, a global, portfolio-wide patent license agreement with Bosch. The agreement settles patent infringement litigation in the Eastern District of Virginia. ObjectVideo and Bosch have also asked the United States International Trade Commission (USITC) to terminate its proceedings related to the matter.
"We are pleased to have entered into a global, portfolio-wide license agreement with Bosch, a leader in the video security market," said Raul Fernandez, chairman of ObjectVideo.
"The agreement amicably settles the matter and allows us to focus our full attention on our customers," said Christopher Gerace, president, Bosch Security Systems, Inc.
Bosch is the seventh licensee to join ObjectVideo's patent licensing program; other licensees include Sony Corporation, Pelco by Schneider Electric, Tyco Security Products' American Dynamics business unit and VIVOTEK. The company holds 47 U.S. and international patents and has 45 U.S. and international patents pending.
About ObjectVideo, Inc.
ObjectVideo is a 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.