Oracle, SAP settle long-running TomorrowNow lawsuit

14 Nov 2014 | Author: | No comments yet »

SAP to Pay Oracle $359 Million Over Software Downloading.

Oracle Corp. (ORCL:US), which lost a shot in August at reinstating a $1.3 billion damages award against SAP SE, accepted $359 million to end its copyright lawsuit against the German software company and forgo a new trial. The agreement brings to a close a dispute that arose seven years ago between Oracle and Walldorf, Germany-based SAP, the biggest supplier of back-office business-management software. Consensus earnings for the current quarter by the 31 sell-side analysts covering the stock is an estimate of $0.69 per share, which would be $0.00 worse than the year-ago quarter and a $0.05 sequential decrease. Oracle sued SAP in 2007, saying a Texas unit of the German company made hundreds of thousands of illegal downloads and several thousand copies of software that it used to market maintenance services to customers who ran programs from firms that Oracle had taken over.

A jury awarded $1.3 billion in damages based on the value of a hypothetical license that SAP would have negotiated for using Oracle’s copyrighted software. The federal judge in Oakland, California, presiding over the case ruled the verdict was excessive and reduced it to $272 million, drawing an appeal from Oracle. Summary (NYSE:ORCL): Oracle Corporation develops, manufactures, markets, hosts, and supports database and middleware software, application software, cloud infrastructure, hardware systems, and related services worldwide.

It also provides applications software, such as human capital and talent management, customer experience and customer relationship management, financial management and governance, risk and compliance, procurement, project portfolio management, supply chain management, business analytics and enterprise performance management, and industry-specific applications software; and virtual machine instance, hardware and related support, and software and hardware management and maintenance services. In addition, the company offers customers with rights to software product upgrades and maintenance releases; patches released; and Internet access to technical content, as well as Internet and telephone access to technical support personnel. Further, it provides servers, storage, networking, virtualization software, operating systems, and management software to support various IT environments; and hardware systems support solutions, such as software updates for the software components.

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