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Facet Technology Corp. and TomTom Settle Legal Dispute, TomTom to License Facet's Patents
(PRLEAP.COM) Eden Prairie, MN - June 3, 2009 - Facet Technology Corp. and Dutch navigation device maker TomTom, N.V. (TOM2.AS) have reached a settlement after a sixteen-month legal battle. The case has been settled through a patent agreement under which TomTom acquired a limited license to Facet’s patents. Specific financial terms of the agreement were not disclosed.
Facet Technology Corp.’s patent portfolio addresses technology and capabilities in the areas of image processing, image analysis, database creation, and vehicle navigation.
Jamie Retterath, Facet Technology Corp.’s CEO, stated: "We are pleased TomTom has chosen to resolve the litigation amicably by entering into a patent agreement. Our patent portfolio represents years of work in the economic production of large data sets like nationwide maps, and supports advanced capabilities that will be critical for future vehicle navigation systems."
Advanced Driver Assistance System (ADAS) features like road sign recognition are coming to US-based vehicles within the next two years. SignFinder® technology represents a class of capabilities and patented processes that are crucial for ADAS systems. The SignFinder® technology will support capabilities like lane departure warning, obstacle detection, and dynamic speed control.
"Advertisement-based vehicle navigation and location based services will garner increased attention in the consumer space over the next few years", Retterath added. "Part of the portfolio licensed by TomTom includes intellectual property that we feel is a key enabler for the advertising model in consumer navigation and LBS."
Facet Technology Corp. has utilized patented and proprietary processes to create SightMap®, a nationwide routable map that includes 3D road geometry and high spatial accuracy. Innovative software and data collection techniques have made the SightMap® system the lowest cost, easiest-to-maintain road network in the industry.
For more information, visit www.facet-tech.com or contact Jamie Retterath at 952-944-1839.
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