|AgJunction Settles with Raven in Patent Infringement Suit|
Hiawatha, July 11, 2018 (GLOBE NEWSWIRE) -- AgJunction Inc. ( AJX.TO), a leader in advanced guidance and autosteering, announced today that it has settled a patent infringement lawsuit it filed against Raven Industries, Inc. (“Raven”) 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 nonexclusive license 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.”