EXCITING TIME FOR RVTNovember 9, 2015
Robotic VISION Technologies has formed a strategic partnership with Intellectual Ventures in an agreement made public today. It is a dynamic breakthrough for RVT, transforming us from a company with the finest portfolio of vision guidance software for robots on the planet to a company with the technology to be a force in the advancement of automation. Intellectual Ventures is a technology and patent powerhouse and it can take us places we never could have gotten to, and at an accelerated pace. There are several reasons for this partnership, but there are three major considerations. We can currently discuss the following:
First : With IV, we go from a small company to gaining a worldwide network of associates. IV will introduce RVT into its 4,000-person Inventor Network and RVT becomes a member of IV’s “Small Company-Big Technology” group (SCBT). We have a vast potential to expand our products and business with Intellectual Ventures.
Second : RVT and IV are partners, period. Strategic, yes, but we’re very proud that IV has an equity stake in RVT and Intellectual Ventures stands behind us in every way. Our technology and patents are the properties that give us value as a company. We need to protect them. With IV, we will always know that our assets are protected and will grow as we collaborate on inventions together.
Third : RVT and IV will establish an internal business development team that will introduce the RVT technology into markets outside of North America. IV is initially focused on Japan and Korea. We will be growing in different markets as China is on the horizon. We will be growing in other areas with IV too. IV will provide RVT complimentary assets from its 40,000 plus innovative patents world-wide. They say, one plus one sometimes equals three. We see that here.
RVT has been a company that has focused on technological development and building an elite technical team with the belief that revenues will follow. Our scientists and engineers in Bloomfield Hills have done the work to establish us as a leader in the field of Vision Guided Robotics and now it is time for us to reach our full potential in terms of products and revenue. With IV as our partner, we have the resources to go beyond whatever had been possible. We’re not trying for a landing on Mars, we’re taking off for the new universe. The trip to the new universe began for us with this partnership with IV but the fuel to get us there will be the release of our eVF 7.0 in mid 2015.
We’re unabashedly excited to be a part of Intellectual Ventures. We can’t think of a single reason not to be.
RVT President and CEO