SAP has been struggling with a copyright case imposed by Oracle for the last seven years. The company finally nodded to pay $359 million to Oracle in order to resolve the ongoing copyright case. SAP is the largest supplier of the office business management software in the world. The settlement proposal has been filed in the US District Court for the Northern District of California, Oakland division.
After the settlement proposal was made by SAP, the Oracle shares have risen by 0.2 percent. This is certainly great news for Oracle as the case has been haunting the company for the last seven years. The dispute between the two companies began back in 2007 when financial crises struck the world with its might.
Oracle sought much higher settlement money for resolving the copyright case, but SAP wanted to make it as low as possible. Back in 2010, a judge made a ruling on the copyright case, ordering SAP to pay a whopping sum of $1.3 billion to Oracle. However, this ruling was overturned by the US District Judge Phyllis Hamilton, who cut down the settlement amount to $272 million.
After an appeal made by Oracle; the money for the settlement was proposed to be close to $357 million. Now, SAP has agreed to pay $359 million to Oracle in order to resolve the copyright case against them. This settlement money does not include the $120 million that has been paid by SAP to Oracle in lieu of its legal fees and the costs required to prosecute the case against SAP.
Both Oracle and SAP are extremely happy and satiated about the outcome of the case. The spokespersons of both the companies are pleased with the results and have expressed their happiness regarding the outcome.
However, as The Wall Street Journal reports, both companies seem to be satisfied with the settlement:
“We are thrilled about this landmark recovery and extremely gratified that our efforts to protect innovation and our shareholder’s interests are duly rewarded,” said Dorian Daley, Oracle’s General Counsel, in an emailed statement. “This sends a strong message to those who would prefer to cheat than compete fairly and legally.”
An SAP spokesman said his company was pleased that courts hearing this case “ultimately accepted SAP’s arguments to limit Oracle’s excessive damage-claims and that Oracle has finally chosen to end this matter.”