Verizon Communications Inc. To License Veveo Search Technology

Verizon Communications Inc. and Veveo Inc. announced on March 15, 2012 that Verizon will license certain Veveo technology that can be used to enhance FiOS TV to provide new personalized search capabilities across a TV, phone or tablet. Veveo's technology personalizes the search and discovery process by allowing customers to browse less and watch more of the programs, movies and other on-demand content that matter to them. As part of the agreement, Verizon entered into a nonexclusive license of certain Veveo search patents for both TV and mobile devices. Financial terms of the settlement were not disclosed. The parties will also explore expanding their partnership across various lines of business in the future.