TeleCommunication Systems and Sybase, Inc. Reach Legal Settlement
2009年12月23日 - 9:00PM
Marketwired
TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS), and Sybase,
Inc. (Sybase) (NYSE: SY) today announced that they have agreed to
settle two patent infringement lawsuits. Both lawsuits were filed
by TCS in the United States District Court for the Eastern District
of Virginia, Richmond Division. The earlier filed suit was brought
in July 2006 against Mobile 365, Inc. Sybase acquired Mobile 365
during the earlier-filed litigation and the acquired company was
subsequently renamed Sybase 365, Inc. and later Sybase 365, LLC.
The later filed suit was brought in July 2009 against Sybase 365,
Inc.
The parties have decided that, in order to avoid the costs and
substantial burdens of the litigation, it is in the interest of
each of their businesses to resolve these matters at this time,
although Sybase continues to dispute TCS' allegations and does not
admit any infringement. Sybase will make a one-time payment of $23
million to TCS in exchange for a license in the TCS inter-carrier
messaging family of patents. Other specific terms of the settlement
are confidential. Sybase believes that the substantial majority of
the settlement amount will be satisfied by an escrow Mobile 365's
former shareholders established when Sybase acquired Mobile 365,
and that a legal reserve Sybase previously established will be
sufficient to cover the balance of the settlement amount. TCS will
record fourth quarter 2009 legal and other non-recurring expenses
in connection with this settlement totaling approximately $7.5
million.
About TeleCommunication Systems, Inc.
TeleCommunication Systems, Inc. (TCS) (NASDAQ: TSYS) engineers and
delivers highly reliable wireless communications technology. TCS is
a leader in wireless text messaging and location-based technology,
including E9-1-1 services and commercial applications like
navigation that use the precise location of a wireless device, and
secure satellite-based communications systems and services.
Customers include leading wireless and VoIP carriers around the
world, cable MSOs, automotive telematics vendors, and agencies of
the U.S. Departments of Defense, State, and Homeland Security. TCS
is one of six primary vendors on a $5 billion Army Worldwide
Satellite Systems Contract vehicle. For more information, visit
www.telecomsys.com.
About Sybase, Inc. Sybase is an industry
leader in delivering enterprise and mobile software to manage,
analyze and mobilize information. We are recognized globally as a
performance leader, proven in the most data-intensive industries
and across all major systems, networks and devices. Our information
management, analytics and enterprise mobility solutions have
powered the world's most mission-critical systems in financial
services, telecommunications, manufacturing and government. For
more information, visit http://www.sybase.com.
Company Contact: TeleCommunication Systems, Inc. Meredith Allen
410-295-1865 MAllen@telecomsys.com Media Contact: Welz & Weisel
Communications Evan Weisel 703-218-3555 evan@w2comm.com Investor
Relations: Liolios Group, Inc. Scott Liolios 949-574-3860
info@liolios.com
Sybase (NYSE:SY)
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Sybase (NYSE:SY)
過去 株価チャート
から 7 2023 まで 7 2024