Chauvet CEO Albert Chauvet said, "Because we have invested heavily in LED technology and because we strongly believe that it is the way of the future, we took a pro-active stance in approaching Color Kinetics and seeking access to their patent portfolio. "We are thrilled that we were able to come to an agreement that will help us consolidate our position as a forward-thinking, groundbreaking company while still allowing us to offer the value that we are known for."
"Color Kinetics is committed to enabling the intelligent LED Lighting market by granting access to the IP we've funded and developed for over ten years," said Bill Sims, president and CEO, Color Kinetics. "We're pleased to assist Chauvet in its efforts and thereby support ongoing development of LED-based entertainment lighting products."
The global licence applies to sales of Chauvet products in certain markets covered by Color Kinetics' patent portfolio.
(Jim Evans)
