To develop new inventions and advance the commercialization of RVT's technologies
Robotic VISION Technologies, LLC (RVT), a leading provider of intelligent machine vision technologies, and Intellectual Ventures (IV), the global leader in the business of invention, have formed a strategic partnership to develop new inventions and advance the commercialization of RVT's technologies.
RVT's software and technologies enable image recognition, machine vision and robot guidance processes in industrial and non-industrial markets. The company's platform of vision guidance software products allows robots and other automated machines to "see, think and do."
IV will provide access to its global network of engineers, scientists and other inventors to develop new inventions for RVT. IV will also work to expand the sales and customer base for RVT products and services in key international markets including China, Japan, Korea and Europe.
"Our new partnership with Intellectual Ventures is another important step in the growth of RVT as well as the development of machine vision technology in general," said RVT founder and CEO Rick Weidinger. "By gaining access to IV's global network of inventors, as well as the company's international footprint, RVT technologies can now get into the hands of even more leading companies around the world.
"The pace of innovation in robotics and automation is accelerating with vision software being the key enabler. Our technology at RVT has positioned us to be a critical component to widespread growth. We have built a robotic software platform and solution stack that can be turned into new products with profitable returns on investment in many ways and in many different markets. IV's partnership plays a central role in this expansion by introducing RVT into these new areas with its global business development capability and will accelerate the RVT innovation with its powerhouse IP portfolio and 4,000 inventor network."
RVT has been building its patent portfolio and recently announced its latest US patent filings. The company remains committed to maintaining a strong intellectual property portfolio.
"Robotic VISION Technologies' engineering and product development strengths are already formidable," said Tim Londergan, head of commercial development for the Invention Development Fund at Intellectual Ventures. "As we join IV's global network and resources to the RVT product and services suite, we look forward to bringing its machine vision technology to the world.
"Over the past two years, the Invention Development Fund at Intellectual Ventures has worked diligently to strengthen the patent portfolios of our many small and medium sized corporate partners. For these partnerships to succeed, groundbreaking inventions must be at the core of the relationship. RVT's strong inventions and technologies are world leading and will be attractive to prospective customers worldwide."
In addition to traditional IP licensing deals, companies work with IV's in-house inventors as well as its network of more than 4,000 inventors across ten countries to solve near-term technical issues and invent the technologies that will differentiate next-generation products from the competition. IV's IP portfolio includes nearly 40,000 patent assets across more than 50 fields of technology.
About Intellectual Ventures
Founded in 2000, Intellectual Ventures (IV) is the global leader in the business of invention. IV collaborates with leading inventors, partners with pioneering companies and invests both expertise and capital in the process of invention. IV's mission is to energize and streamline an invention economy that will drive innovation around the world.
About Robotic Vision Technologies, LLC
Robotic VISION Technologies LLC, a privately held company, is a recognized leader in the field of intelligent machine vision. eVisionFactory (eVF) is the brand name of the RVT vision guidance software platform that allows robots to "see, think, and do." RVT's software and technologies enable image recognition, machine vision and robot guidance processes in industrial and non-industrial markets. RVT's main 3D vision products feature the Henry Ford Technology Award-winning single-camera 3D software product in addition to its proprietary validation tools - AutoCal, AutoTrain and AccuTest. In addition, RVT has won the prestigious BAE Systems Chairman's Award for its technology and governmental work efforts. A sample of customers using RVT's products include Ford, GM, Chrysler, Honda, Toyota, Nissan, Harley- Davidson, Boeing and Johnson & Johnson. RVT's eVF software platform is installed in hundreds of systems worldwide and operates every day on over $500 million of capital equipment. Robotic VISION Technologies is headquartered in Bloomfield Hills, Mich., with an office in Washington, D.C., and will open an office and technical center in Munich, Germany, in February, 2014.