- BOSTON, MA AND AUSTIN, TX--Color Kinetics Incorporated and Element Labs announced a global cross-licensing agreement, fostering on-going product development in the entertainment-focused market for intelligent LED lighting. Element Labs will acquire access to Color Kinetics' complete patent portfolio, enabling the development and sale of certain LED-based product lines worldwide.
- Several of Element Labs' intelligent LED product lines apply Color Kinetics' proprietary control methods to generate millions of colors and video-based lighting effects. As such, Element Labs will pay royalty fees on the sales of these products in all markets covered by Color Kinetics' patent portfolio. Element Labs will also grant Color Kinetics a license to certain patents owned or controlled by Element Labs.
- "Both Color Kinetics and Element Labs have achieved substantial success in the entertainment lighting space, where LEDs already far outweigh the capabilities of conventional sources in most color applications. Adding Element Labs to our roster of licensees in this sector not only reflects the weight of our intellectual property; it points to the increasing convergence of intelligence and LED sources, a trend that we believe will ultimately touch all uses of light," said Bill Sims, president and CEO, Color Kinetics. "Our licensing program continues to gain momentum as more manufacturers across various industries recognize the power that digital intelligence can afford."
- "We are witnessing remarkable demand around the world for our cutting-edge LED systems, which provide an economical and easy-to-install alternative to conventional video screens," said Nils Thorjussen, president and CEO, Element Labs. "As we continually look to take advantage of rapidly improving LED technology, we think it's important to work with Color Kinetics, whose pioneering R&D and resulting intellectual property have led the market." For more information visit www.colorkinetics.com and www.elementlabs.com.
