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News Breaks
April 25, 2013
10:14 EDTOTEX, JCOMJ2 Global enters settlement and patent license deal with Open Text
j2 Global (JCOM) disclosed in a regulatory filing that it has entered into a settlement and patent license agreement with Open Text Corporation (OTEX) to resolve patent litigation asserted by the company and its affiliates against Open Text its affiliates. Open Text will pay j2 Global $27M in exchange for a fully paid up license to the Licensed j2 Patents for fax software and services sales to enterprise and corporate customers. Open Text has also agreed pay j2 Global a running royalty for a license to the Licensed j2 Patents for sales of fax software and services to individual and small office/home office customers, provided that such royalty exceeds a stipulated minimum amount. j2 Global said I will recognize a portion of the $27M as revenues and income during Q2 and the balance on a quarterly basis over the lives the Licensed j2 Patents. The company and Open Text have agreed to cause all outstanding litigation between them and their affiliates to be dismissed with prejudice and have granted each other full mutual releases, j2 said.
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17:27 EDTOTEXOpenText announces $200M share buyback
OpenText CEO Mark Barrenechea said, "Today we announced a share buyback of up to $200M and our quarterly dividend of 20c. We also re-affirm our intent to allocate $3B in capital to acquisitions in the coming years."
16:56 EDTOTEXOpenText up 10.3% after reporting Q4 results, expanding partnership with SAP
16:49 EDTOTEXOpenText announces expanded partnership with SAP
OpenText (OTEX) and SAP (SAP) announced they will team up with OpenText to provide B2B managed services capabilities to multi-national businesses. "OpenText is pleased to expand its partnership with SAP to help companies simplify the increasing complexities of trading partners and B2B management," said Mark Barrenechea, president and CEO of OpenText. "We can address the timely and complex integrations that many customers have with their trading partners around the world. SAP, together with Ariba, an SAP company, and OpenText will provide customers a solution that enables them to improve time to revenue, reduce costs and helps to advance the digital transformation that today's leaders are undertaking."
16:18 EDTOTEXOpenText reports Q4 EPS 87c, consensus 69c
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