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Digimarc Expands Partnership with Walmart in a New Multiyear Agreement
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The deal covers an expanded deployment of Digimarc Platform capabilities
BEAVERTON, Ore., Dec. 1, 2022 /PRNewswire/ -- Digimarc Corporation (Nasdaq: DMRC) announced today that the company has entered into an additional multi-year agreement with Walmart to help further optimize store operations. The new agreement guarantees a minimum payment of $2.7 million in year one, more than doubling to $5.8 million in year two, and covers an expanded deployment of Digimarc Platform capabilities beyond the scope of the existing agreement between the two companies. As discussed in our Q3 earnings call, the remaining contract value of $7.3 million has now been booked in the current quarter as expected.
"Walmart is a forward-thinking technology leader with an unwavering focus on customer experience. We are thrilled to expand our partnership with them and look forward to sharing more details about this expansion in the coming months," says Riley McCormack, Digimarc CEO.
To learn more about the Digimarc Platform and product digitization suite, visit digimarc.com.
About Digimarc
Digimarc is a global leader in product digitization, delivering business value across industries through unique identities and cloud-based solutions. A trusted partner in deterring digital counterfeiting of global currency for more than 20 years, Digimarc reveals a product's journey to provide intelligence and promote a prosperous, safer, and more sustainable world. With Digimarc, you can finally see everything. And when you see everything, you can achieve anything. For more information, visit us at digimarc.com.
digimarc is a leading innovator and technology provider. based in beaverton, oregon (usa), digimarc enables businesses and governments worldwide to enrich everyday living with the means to identify all forms of content, including print, packaging, audio, video and digital imagery. we develop solutions, license intellectual property and provide development services to business partners across a wide range of industries. our vision all of digimarc’s solutions reflect a unified vision: to enrich everyday living via pervasive, intuitive computing. we accomplish this by creating a new means of communication based on our proprietary digimarc barcode and digimarc discovery platforms, allowing computers and digital devices to see, hear and engage with the world around them much like people do. the result is that consumers and organizations can easily access digital content when, where and how they want it. there are tens of billions of objects already embedded with the digimarc barcode and in
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