Key Developments For Digimarc Corporation
Digimarc Corporation (DMRC.O) (Consolidated Issue listed on NASDAQ Global Market)
Digimarc Corporation Sues Shazam For Patent Infringement
Digimarc Corporation announced that it has filed a complaint for patent infringement against Shazam Entertainment, Ltd. According to Shazam, it is the mobile music discovery provider, marketing software and services that have been used by more than 50 million people in over 150 countries. Digimarc asserts that Shazam`s music identification technology infringes three of Digimarc`s patents, including two patents dating back to 1995. Digimarc`s patents relate to technology that enables devices to identify audio and visual content and immediately link the consumer to associated internet services.
Digimarc Corporation Receives Contract To Enhance U.S. Military Video Intelligence Systems
Digimarc Corporation announced that it was awarded a contract for the SmartData program by CACI International Incorporated, in the amount of $600,000, to further advance the technology used in U.S. military video intelligence systems. The initiative integrates hardware developed under a previous contract into an operational Unmanned Aerial Vehicle (UAV), and includes testing in specific scenarios to demonstrate improvements in collection, search, retrieval and dissemination of future intelligence, surveillance and reconnaissance imagery.
Digimarc Corporation Wins Contract to Help Secure Nuclear Weapons in U.S. Navy Custody
Digimarc Corporation announced that it was officially awarded a contract by Battelle Energy Alliance, LLC (BEA), in the amount of $920,700, to help create a system to ensure the security and safety of strategic weapons facilities.
Digimarc Corporation and The Nielsen Company Expands Relationship; Forms Joint Ventures
Digimarc Corporation announced that it has entered into an agreement with The Nielsen Company to jointly launch two new companies that will leverage the intellectual property assets of Digimarc and the wealth of consumer and business data amassed by Nielsen. Through the creation of these joint ventures, Digimarc and Nielsen will expand and extend their existing relationship to enhance television viewing, facilitate mobile commerce, and create valuable other new opportunities for television networks and consumer brands to more deeply engage with audiences. The two joint venture agreements and a revised license agreement expand and replace the previous Digimarc/Nielsen license and services agreement that has been in operation since late 2007. Under the new agreement, Digimarc and Nielsen will work together to develop new products and services, including the expansion and deployment of those that have been under development in connection with the prior agreement. Each company will own roughly one-half of each joint venture. Digimarc is expected to account for the operations of the joint ventures under the equity method of accounting and will report its portion of the net results of the entities based on its ownership share. It is expected that both Nielsen and Digimarc will provide shared general overhead services to the joint ventures.
Digimarc Corporation Announces Stock Repurchase Program
Digimarc Corporation announced that the Company's Board of Directors approved a stock repurchase program authorizing the purchase, at the discretion of management, of up to $5 million of the Company's outstanding common stock. Common stock repurchases may be made from time to time in the open market at prevailing market prices or through privately negotiated transactions. The timing of open market and privately negotiated purchases will be dependent upon market conditions and other corporate considerations, including price, corporate and regulatory requirements and alternative investment opportunities. The Company expects to use cash from operations to fund the repurchase program, which is authorized through April 30, 2010. Shares of common stock repurchased by the Company through the repurchase program will become authorized but unissued shares.
