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SOURCE Agjunction Inc.
HIAWATHA, KS, Jan. 2, 2018 /PRNewswire/ - (TSX: AJX) - AgJunction Inc. (TSX: AJX) ("AgJunction" or the "Company"), through its wholly-owned subsidiary Novariant, Inc., a leader in automated steering and machine control technology for precision agriculture, has filed a patent infringement lawsuit in the Western District of Texas against Raven Industries, Inc. ("Raven"). The lawsuit alleges that Raven products violate three AgJunction patents related to automated mechanical steering, implement steering and system calibration technologies.
"AgJunction has one of the most comprehensive steering and machine control IP portfolios in the industry," said Bob Barjesteh, vice president of intellectual property and general counsel for AgJunction. "These assets are critical components of our corporate strategy and integral to the success of our business and that of our partners. After several attempts to negotiate with Raven, we are left with no choice but to assert three of our patents, which are vital to hands-free steering and machine control functions."
The lawsuit seeks monetary damages and an injunction to prevent Raven from selling any products infringing AgJunction's patented technology.
AgJunction is committed to bringing new technologies and products to the market and protecting its business and partners by continuing to build its intellectual property portfolio and enforcing its rights against unlicensed use.
AgJunction (www.agjunction.com) provides innovative hardware and software applications for precision agriculture worldwide. The Company holds more than 185 patents and patent applications and markets its products and services under leading brand names including Novariant, Outback Guidance® and Satloc®. The Company is headquartered in Hiawatha, Kansas, with facilities in Silicon Valley, California, Scottsdale, Arizona, Winnipeg, Manitoba and Queensland, Australia. AgJunction is listed on the Toronto Stock Exchange (TSX) under the symbol "AJX." For more information, please go to www.agjunction.com.
Reader Advisory and Note Regarding Forward Looking Information
This press release contains forward-looking information and forward-looking statements (collectively, "forward-looking information") within the meaning of applicable securities laws and is based on the expectations, estimates and projections of management of AgJunction as of the date of this news release, unless otherwise stated. The use of any of the words "expect," "anticipate," "may," "will," "should," "believe," "intends" and similar expressions are intended to identify forward-looking information. In respect of the forward-looking information, AgJunction has provided such information in reliance on certain assumptions that it believes are reasonable at this time. Readers should not place undue reliance on such forward-looking information contained in this press release since forward-looking information addresses future events and conditions, such information by its very nature involves inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. This press release is for informational purposes only and does not constitute an offer to sell or a solicitation to buy any security which may be referenced herein.
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