Brady Secures License to Valuable Honeywell Global Shutter Barcode Technology

Rhea-AI Summary

Brady has entered into a multi-year licensing agreement with Honeywell to use its patented global shutter technology in barcode scanners. This agreement allows Brady access to advanced technology that enhances barcode scanning efficiency and versatility. President Russell Shaller emphasized the significance of this license, stating it will benefit industrial customers by improving motion tolerance and speeding up barcode processing. The deal highlights the value of Honeywell's patent portfolio in meeting diverse customer needs across various sectors, including retail and healthcare.

Positive

• Brady secures a multi-year licensing agreement with Honeywell for global shutter technology.
• The technology promises improved barcode scanning efficiency and versatility for Brady's products.
• Enhanced capabilities include faster barcode reading and better performance in various environments.

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• None.

MILWAUKEE, March 25, 2022 (GLOBE NEWSWIRE) -- Brady today announced that it has entered into a multi-year agreement with Honeywell International Inc. to license Honeywell patented technology related to the use of its global shutter technology in barcode scanning devices. Under terms of the license, Brady has agreed to pay an annual royalty to Honeywell to license Honeywell patents that cover global shutter technology in barcode scanners.

Russell Shaller, President – Identification Solutions of Brady, said, “We are thrilled to have been able to secure a license to Honeywell’s global shutter patent portfolio. Having access to this extremely valuable technology has been a goal of Brady’s for many years. Brady respects the intellectual property rights of other companies and, as a result, approached Honeywell to secure a license to Honeywell’s global shutter technology prior to manufacturing and releasing products that included that technology. Brady’s industrial customers will see recognizable improvements in Brady’s products as a direct result of this groundbreaking technology.” 

Mr. Shaller also touted the benefits of the global shutter technology to customers saying, “For many years, companies, including Brady, relied on rolling shutter technology in barcode scanners. In the early 2000s, Honeywell developed a global shutter technology that is inherently faster for highspeed barcode scanning. Honeywell’s patented global shutter technology has significant advantages over rolling shutter, including improved motion tolerance, faster barcode reading, and increased versatility. Because of the global shutter technology, Brady’s industrial customers will be able to scan barcodes more efficiently and operate Brady’s products in a wider range of environments and situations.” 

Kevin Dehoff, President of Honeywell’s Productivity Services and Solutions business unit noted, “Our barcode scanning engines with their patented global shutter technology makes it an ideal fit for the next generation of handheld devices, mobile payments, scanners and more. Their design makes them a versatile option for customers from retail and healthcare to supply chain and warehouses to effortlessly handle the volume of scanning intensive applications require. Honeywell’s agreement with Brady confirms the value of our patent portfolio and the importance of our innovations to the products offered in the industry that help our customers meet their business needs.”

About Brady Corporation

Brady Corporation is an international manufacturer and marketer of complete solutions that identify and protect people, products, and places. Brady’s products help customers increase safety, security, productivity, and performance and include high-performance labels, signs, safety devices, printing systems and software. Founded in 1914, the Company has a diverse customer base in electronics, telecommunications, manufacturing, electrical, construction, medical, aerospace and a variety of other industries. Brady is headquartered in Milwaukee, Wisconsin and as of July 31, 2021, employed approximately 5,700 people in its worldwide businesses. Brady’s fiscal 2021 sales were approximately $1.14 billion. Brady stock trades on the New York Stock Exchange under the symbol BRC. More information is available on the Internet at www.bradycorp.com.

For More Information:
Media contact: Bill Blank 414-719-9983

FAQ

What is the significance of the licensing agreement between Brady and Honeywell?

The licensing agreement allows Brady to use Honeywell's patented global shutter technology, improving the efficiency and performance of its barcode scanning devices.

How will Honeywell's global shutter technology benefit Brady's products?

The technology will enhance motion tolerance, increase scanning speed, and allow for operation in a wider range of environments.

What industries can benefit from the technology licensed by Brady?

Industries such as retail, healthcare, and supply chain will benefit from the advanced barcode scanning capabilities.

What is the stock symbol for Brady Corporation?

Brady Corporation trades under the stock symbol BRC on the New York Stock Exchange.

When was the licensing agreement with Honeywell announced?

The licensing agreement was announced on March 25, 2022.