Mr. Bob Barjesteh reports
AGJUNCTION SETTLES WITH RAVEN IN PATENT INFRINGEMENT SUIT
AgJunction Inc. has settled a patent infringement lawsuit it filed against Raven Industries Inc. in January of this year. The suit alleged Raven products violated three AgJunction patents related to automated mechanical steering, implement steering and system calibration technologies.
Raven and AgJunction announce that they have reached a mutually agreeable no-fault business solution, whereby Raven is granted a non-exclusive licence to a significant portion of AgJunction's extensive patent portfolio, and the litigation is resolved. Under the agreement, both companies will continue to pursue their varied commercial interests.
"We are very pleased to announce this agreement with Raven to license certain of our technology. Commercialization of our patent portfolio is a vital component of our corporate strategy and central to the success of our business and that of our partners," said Bob Barjesteh, vice-president of intellectual property and general counsel for AgJunction. "Licensing these patents to Raven substantiates the strength of our industry-leading intellectual property portfolio."
About AgJunction Inc.
AgJunction is a global leader of advanced guidance and auto-steering solutions for precision agriculture applications. Its technologies are critical components in over 30 of the world's leading precision Ag manufacturers and solution providers, and the company holds over 130 fundamental steering and machine control patents. AgJunction markets its solutions under leading brand names, including Novariant, Outback Guidance and Satloc, and is committed to advance its vision by bringing affordable hands-free farming to every farm, regardless of terrain or size. AgJunction is headquartered in Hiawatha, Kan., with facilities in Silicon Valley, Arizona, Canada and Australia, and is listed on the Toronto Stock Exchange under the symbol AJX.
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