J2 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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On The Fly: Analyst Upgrade Summary Today's noteworthy upgrades include: Celgene (CELG) upgraded to Buy from Neutral at UBS... CF Industries (CF) upgraded to Neutral from Sell at Goldman... Kohlís (KSS) upgraded to Buy from Neutral at BofA/Merrill... Spirit AeroSystems (SPR) upgraded to buy from Hold at Canaccord... Tiffany (TIF) upgraded to Conviction Buy from Neutral at Goldman... Union Pacific (UNP) upgraded to Strong Buy from Outperform at Raymond James... CVR Energy (CVI) upgraded to Neutral from Underperform at Macquarie... Alon USA Energy (ALJ) upgraded to Neutral from Underperform at Macquarie... Valero Energy (VLO) upgraded to Outperform from Neutral at Macquarie... Marathon Petroleum (MPC) upgraded to Outperform from Neutral at Macquarie... Smith & Wesson (SWHC) upgraded to Buy from Hold at Lake Street... Open Text (OTEX) upgraded to Neutral from Negative at Susquehanna... Sprint (S) upgraded to Buy from Neutral at Nomura... Halcon Resources (HK) upgraded at Morgan Stanley.