Hikvision and ObjectVideo Sign Noteworthy Patent Licensing Agreement

HANGZHOU, China and RESTON, Virginia, March 3, 2014 /PRNewswire/ -- Hikvision (SHE: 002415), the global leader of video surveillance products and solutions, is pleased to announce the signing of a worldwide patent license agreement with video analytics provider ObjectVideo, Inc.

"Hikvision has a rich intelligent video analytics product line. This line plays an important role in both data mining and data services," said Yangzhong Hu, President of Hikvision. "With this agreement with ObjectVideo, Hikvision is able to accelerate the promotion of intelligent video analytics products and solutions in the global market to better serve our customers and partners."

"We are very pleased to have Hikvision join our patent licensing program," noted Raul Fernandez, Chairman and CEO of ObjectVideo. "Hikvision is our first partner from China. We believe Hikvision's continuous investment in the video analytics field will reinforce its already impressive market position."

"Hikvision intelligent video analytics product lines include network cameras, PTZ dome cameras, NVRs and video servers. These products have been successfully applied worldwide in city surveillance, transportation, financial institutions, commercial, and industrial vertical markets," said Shiliang Pu, R&D Director of Hikvision. "We will continue to dedicate ourselves to the development of cutting-edge technology for richer solutions."

"As the IP security market continues its rapid growth, video analytics stands out as an important piece of the global solution," said Chris Capuano, General Counsel of ObjectVideo. "Hikvision's ongoing investment in intelligent products with video analytics is further evidence of the importance of this technology."

Hikvision is one of 18 companies joining ObjectVideo's patent licensing program. Others include Panasonic, Sony, Pelco, Bosch, Tyco / American Dynamics, Flir etc. ObjectVideo holds 55 U.S. and international patents in the field of video analytics and also has 40 additional U.S. and international patents pending.

About Hikvision
Hikvision is the world's largest supplier of video surveillance products and solutions. The company specializes in video surveillance technology, as well as designing and manufacturing a full-line of innovative CCTV and video surveillance products. The product line ranges from cameras and DVRs to video management software. Since its inception in 2001, Hikvision has quickly achieved a leading worldwide market position in the security industry.

Hikvision possesses the world's largest R&D team and state-of-art manufacturing facilities; both allow Hikvision's customers the benefit of world-class products that are designed with cutting-edge technology. As further commitment to its customers, Hikvision annually reinvests 7% of its revenue into R&D for continued product innovation and improvement.

Hikvision operates over 30 domestic branches in China and 14 overseas regional subsidiaries, in conjunction with over 30,000 partners all over the world to achieve a truly global presence. Hikvision is now publicly listed on the Shenzhen Stock Exchange. Please visit our website for more information: http://www.hikvision.com.

About ObjectVideo, Inc.
ObjectVideo is a leading innovator in intelligent video solutions with patented video analytics technologies that are licensed and deployed by leading IP video manufacturers around the world. ObjectVideo continues to advance the science of intelligent video with ongoing research and development in areas including intelligent tagging of consumer and commercial video; machine learning; and mobile video intelligence. To stay up-to-date on ObjectVideo news, please click HERE.

Media contacts:
For ObjectVideo, Inc.: Anna Jensen; [phone]; [e-mail]
For Hikvision: Ada Han; [phone]; [e-mail]