Cork's Everseen settles lawsuit with Walmart

Walmart: Earlier this year Cork company Everseen began court proceedings in the US alleging that the US grocery giant was producing its own version of the technology that Everseen was also selling to other companies.

Cork company Everseen has settled its lawsuit with US grocery giant Walmart.

Headquartered in Blackpool on the northside of the city, the company creates video technology software that monitors self-service checkouts to alert staff of potential thefts or incorrectly scanned items. Founded by Alan O’Herlihy the company has worked with at least 14 of the world’s top 25 retailers, including Walmart.

Court proceedings

Earlier this year the company began court proceedings in the US alleging that Walmart was producing its own version of the technology that Everseen was also selling to other companies. Walmart had denied the claim. Both companies have been working on a settlement agreement for a number of months.

"Everseen and Walmart are pleased to have amicably resolved this lawsuit," Everseen said in a statement. "The parties appreciate the working relationship they established around Everseen’s innovative and effective Visual AI technology. The terms of the settlement are confidential."

Accounts published earlier this month for Evergreen show it recorded significant growth last year almost doubling its turnover to €23.3m.

In an interview with the Irish Examiner earlier this year, Mr O'Herlihy said the company was focused on expanding beyond the US, targeting Asia and mainland Europe, seeking to grow by a factor of 10 over a two-year period.

"As a company, we don’t have a dependence on one customer. The plan is to diversify our product and customer base," he said.