IRVINE, Calif.--(BUSINESS WIRE)--Add (NASDAQ: CSCO) to end of second paragraph and first sentence of boilerplate.
The corrected release reads:
UBIQUITY’S WEAV VIDEO ANALYTICS IS WELL AHEAD OF THE CURVE IN A VERY COMPETITIVE INDUSTRY
Ubiquity Broadcasting Corporation's (OTCQB: UBIQ) patented WEAV Intelligent Video Surveillance Software utilizing its innovative object recognition for license plate detection is well ahead of the curve in a very competitive industry.
"Having seen and reviewed Ubiquity's analytics and technology, their unique approach and versatility in product offering sets a new bar for video analytics while propelling them well ahead of the curve in a very competitive and fast growing industry," said Gregory Lynch, J.D. , Senior Director Global Sales, Security Solutions for Cisco Systems, Inc. (NASDAQ: CSCO)
WEAV, Ubiquity’s proprietary video intelligence platform, open architecture, and artificial intelligence software is deployable in a variety of security, safety and business intelligence applications. “Our advanced artificial intelligent capabilities enable true leveraging of surveillance networks and mobile devices transforming WEAV into an intelligent tool that responds to the practical challenges of the 21st century,” said Nick Mitsakos Ubiquity Co-Chairman.
“Recent world events such as The Boston Marathon bombing and other terrorist attacks has proven the need for real time video and data analysis from all types of cameras, including user mobile devices, surveillance cameras, and network footage to cross-reference multiple angles and vantage points to collectively verify the license plate and/or object or person of interest,” said Chris Carmichael, Ubiquity’s Chief Executive Officer.
WEAV license plate detection analyzes footage from a wide variety of video formats obtained from all types of cameras including low resolution surveillance cameras, traffic cameras, personal security cameras, mobile devices, vehicle cameras, etc. to detect objects, logos, weapons, and license plates and assists cities in analyzing potential threats and the day to day monitoring to enforce traffic infractions.
“Ubiquity's license plate identification software relies on its proprietary object detection technology, which was developed with an emphasis towards the most challenging types of data. The license plate detection works under a variety of challenging conditions, including poor lighting and poor resolution. The usage is not restricted to any certain type of camera system, but can be used for analyzing footage from fixed surveillance cameras, dashboard-mounted cameras, and cell phone video. The generality of the algorithm allows us to detect license plates from different states without requiring any specific training of the system,” said Ubiquity CTO Kristian Sandberg Ph.D.
Forward-Looking Statements
Certain matters discussed within this press release are forward-looking statements. Although the Company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. The Company does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law.
About Ubiquity Broadcasting Corporation:
Ubiquity Broadcasting Corporation is a privately-held Delaware corporation focused on the intersection of cloud based cross platform applications synchronized across all screens for enhancing the digital lifestyle. With its corporate office in Irvine, CA, and its own studio operations, Ubiquity is developing ubiquitous digital applications and digital content in connection with its intellectual property. Ubiquity’s technology is seamless, simplistic, and extremely intuitive.
On March 5, 2013 Ubiquity entered into a merger agreement with Ubiquity Broadcasting Corporation, a publicly-held Nevada corporation (UBIQ) (the “Public Company”). Upon satisfaction of all closing conditions, Ubiquity will become a wholly-owned subsidiary of the Public Company (the “Proposed Transaction”). As of the date of this release, the Proposed Transaction has not been completed. Although Ubiquity anticipates that the Proposed Transaction will be completed, there is no guarantee that the closing conditions will be satisfied, nor that the Proposed Transaction will be completed.
About Cisco Systems, Inc. (NASDAQ: CSCO)
Cisco Systems, Inc. (NASDAQ: CSCO) designs, manufactures, and sells Internet protocol (IP)-based networking and other products related to the communications and information technology (IT) industry and provide services associated with these products and their use. It provides a line of products for transporting data, voice, and video within buildings, across campuses, and around the world. Its products are designed to transform how people connect, communicate, and collaborate. It has five segments: United States and Canada, European Markets, Emerging Markets, Asia Pacific, and Japan. The Emerging Markets theater consists of Eastern Europe, Latin America and Russia and the Commonwealth of Independent States. In December 2012, the Company acquired Meraki, Inc. Effective January 31, 2013, the Company acquired Cariden Technologies Inc. Effective February 13, 2013, and the Company acquired BroadHop Inc. In February 2013, it acquired Intucell.
