IVISYS AB granted official patent in Japan for a method for finding ‘nearest neighbor’

Press release
IVISYS AB
Ticker: IVISYS
556998-4981
12 August 2016

IVISYS AB ('IVISYS') announces that the Japan Patent Office has issued an official approval of the company’s patent ‘Method and Device for Finding Nearest Neighbor’. The patent relates to sorting, searching and matching multi dimensional data vectors , in order to find the nearest neighbor. The patent covers a unique and extremely fast way of searching in large databases, which – of course – is valuable also in many other fields other than image processing which is the area focused on by IVISYS today. Besides Japan, the patent is also approved Denmark and the US, indicating the patent’s height regarding novelty.

CTO Moatasem Chehaiber comments

“We are very satisfied with this approval from the Japan Patent Office, it reaffirms that our approach to image processing is truly innovative. With this newly approved patent, which is our first approved patent in Japan, we stand in an even better position regarding securing our intellectual property rights worldwide.”

In 2015, IVISYS was granted its two patents in the US. Both of IVISYS’ patents are used in the company´s novel image processing technology powering the company’s fast and flexible solutions for automated visual quality control. The patent, which has just been approved by the Japan Patent Office, can be applied to greatly speed up a wide range of processes used in computer vision, such as pattern recognition and content-based image retrieval databases.

“Even though, we are currently focusing on growing our business in Europe, our ambition is to grow the company outside Europe at a later stage. Therefore, it is essential that we take the necessary steps now in order to protect our intellectual property internationally. Patent approval processes often take considerable time and we want to position ourselves in the best way possible, before entering new markets. This new Japanese patent is a result of these efforts,” says IVISYS CTO Moatasem Chehaiber.

The newly approved patent is the brainchild of IVISYS’ CTO Moatasem Chehaiber and has previously been approved in Denmark and the US. Applications for approval of the patent has been filed in Europe, Canada, China and India. Protecting IVISYS’ intellectual property is part of the company’s long-term strategy.

For more information on the patent, please contact

Moatasem Chehaiber, CTO of IVISYS AB
Phone: +45 31 70 31 38 / +45 30 32 89 64
E-mail: mc@ivisys.com

About IVISYS

IVISYS AB provides independent vision system solutions for quality control and offers “plug-and-play” solutions with an easy installation process. IVISYS delivers complete solutions with cameras, lighting, hardware and software. The solutions perform quality inspections at high speed and allow multiple control points in a single inspection. IVISYS’ solutions are easily adapted to various products and variations and is invariant to product positioning. Settings can be adjusted by the customer’s own staff according to their demands.

IVISYS’ website: www.ivisys.com.

Certified Adviser

Sedermera Fondkommission is Certified Adviser to IVISYS.

This information is information that IVISYS AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 8:30 CET on 12 August 2016.

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