SAP agrees to $306m Oracle settlement
Software giants reach financial settlement in long-running corporate theft case.
Business software giant SAP has agreed to cough up $306 million to arch-rival Oracle after one of its subsidiaries illegally downloaded files belonging to Larry Ellison's vendor.
The sum is far cry from the $1.3 billion a Californian jury said SAP should pay in 2010, following allegations that its US TomorrowNow subsidiary had downloaded millions of Oracle files using passwords obtained from the firm's customers.
In a further court hearing last year, this sum was whittled down to $272 million, with the judge telling Oracle it could either accept the settlement figure or pursue another trial against SAP.
In a joint court filing, dated yesterday, the two companies said they had agreed a settlement of $306 million to "save the time and expense" of a new trial.
The document states: "Oracle contends that...Oracle's recovery in a new trial would be greater than $306 million."
The settlement is subject to court approval, but could still allow Oracle to pursue a claim to get the original $1.3 billion settlement reinstated, the document claims.
It also confirms that Oracle's legal costs, totalling $120 million, have already been paid by the defendants.
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