Oracle, SAP Settle Long-standing TomorrowNow Lawsuit

14 Nov 2014 | Author: | No comments yet »

Oracle And SAP Settle Long-Running TomorrowNow Lawsuit.

SAN FRANCISCO (AP) — Business software maker SAP is paying rival Oracle $359 million to settle a bitter battle over the theft of copyrighted instruction manuals and other technical information.

Law360, Los Angeles (November 13, 2014, 9:42 PM ET) — Oracle Corp. has accepted $356.7 million from SAP AG for infringing Oracle’s software copyrights, according to a Thursday filing, taking the lesser amount authorized by the Ninth Circuit when it refused to reinstate the $1.3 billion a jury had awarded in the case.(Reuters) – Oracle Corp and SAP SE have settled long-running copyright litigation for $US356.7 million over improper downloads of Oracle files, according to an SAP statement to Reuters on Thursday. 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. The stipulated judgment entered Thursday avoids a new trial on damages and brings to an end Oracle’s suit against SAP and its defunct unit TomorrowNow Inc. over violation of copyrights on Oracle’s business software. The case involved SAP’s TomorrowNow unit, which the German company bought to provide software support to Oracle customers at lower rates than what Oracle charged, hoping to persuade them to become SAP customers.

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. 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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