Avega Systems yesterday announced that Cisco Systems, JAFCO Asia and Technology Venture Partners (TVP), have completed a $7M Series B funding deal.
Avega Systems develops networked home entertainment technology platforms and for the past three years has been developing core technologies targeted at the "connected digital home". Avegas Aios technology platform is targeted at whole-home, multi-zone networked entertainment. The technology incorporates standard wired and wireless technologies including draft 11n and HomePlug AV as well as UPnP AV and DLNA. Aios is being made available to partners on an OEM basis.
Cisco and Apple today announced that they have resolved their dispute involving the "iPhone" trademark. Under the agreement, both companies are free to use the "iPhone" trademark on their products throughout the world.
Both companies acknowledge the trademark ownership rights that have been granted, and each side will dismiss any pending actions regarding the trademark. In addition, Cisco and Apple will explore opportunities for interoperability in the areas of security, and consumer and enterprise communications.
Other terms of the agreement are confidential.
Apple and Cisco issued the following statement today regarding the iPhone lawsuit:
"Apple and Cisco have agreed to extend the time for Apple to respond to the lawsuit to allow for discussions between the companies with the aim of reaching agreement on trademark rights and interoperability."
Concerns that Cisco and Apple could clash over the use of the name "iPhone" for Apple's latest product appeared to be off the table yesterday as Cisco was reported to have offered Apple rights to use the name. Today, the situation has changed.
Full story on TG Daily
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