Ion in early talks with Meta & Alphabet over video tech
Ion Video is in discussions with Meta and Alphabet about its video technology, the Australian-listed group said in a market update.
It has held initial talks with senior executives across multiple departments at both companies and has also met senior executives at other major global technology organisations.
Those organisations span social media platforms, enterprise technology providers, streaming and broadcast infrastructure, and consumer electronics. Ion said the breadth of interest highlights the range of potential uses for its patented video system.
AI limitations
The update comes as large technology groups seek ways to make video more usable in artificial intelligence systems. Ion argues that while AI tools can analyse video content and identify objects, scenes and timestamps, they struggle to assemble new video experiences from existing material without editing and re-rendering files.
It says that the process adds storage, computing and workflow costs. Its approach treats video as a fixed file while separating its internal structure from the audio and visual data it contains.
Ion said this would allow video to be handled more like a programmable format. In its view, that would let AI systems compose, personalise and generate video dynamically rather than create entirely new files for each change.
Early talks
Finbar O'Hanlon, Ion's Chief Innovation Officer, said the discussions have not produced any formal deal.
"These engagements are at an early stage and there is no certainty that they will result in any formal arrangement," said Finbar O'Hanlon.
The talks have included requests for more detailed information on Ion's intellectual property. The company has provided technical documentation, including its white paper and patent specifications.
It also supplied documents covering its granted patent portfolio and a recently filed global patent, as well as novelty search and freedom-to-operate reports tied to its patent families.
According to Ion, the parties have also met face to face to review the technical details of the technology and intellectual property. Preliminary commercial terms for possible partnership deals have also been discussed.
Broader interest
O'Hanlon said some of the contacts have widened within the organisations involved.
"These conversations have been substantive in nature. Ion has responded to requests for further detailed information in respect of the company's intellectual property," he said.
Several of the organisations have introduced Ion to additional departments and decision-makers. Some have also identified specific use cases within their operations where the technology could be applied.
Ion trades on the ASX under the ticker IOV.