IoT
Software // Enterprise Applications
News
12/29/2003
12:46 PM
50%
50%

Microsoft To Pay SPX $60 Million

The maker of transformers, antennas, and industrial equipment says Microsoft will pay by Tuesday; a month ago, a jury found Microsoft guilty of misusing some of SPX's software.

SPX Corp. says Microsoft has agreed to pay it $60 million by Tuesday on its claim that Microsoft had infringed on its patents for conferencing technology.

Last month, a jury in Richmond, Va., had found against Microsoft, maintaining that the company had misused software from SPX's Imagexpo unit. The software was embedded as NetMeeting Whiteboard features in various Microsoft products, SPX had maintained.

"The $60 million is payable by Dec. 30, 2003, and will be reduced by legal and other expenses associated with this lawsuit," SPX said in a statement. The jury had awarded $62.3 million in its verdict in November.

When the jury verdict was announced, there were reports that the award amount could be tripled, because the jury determined the use of the software in question by Microsoft was intentional. Microsoft maintained it had developed the software independently and asked that the SPX patents be invalidated.

SPX, a manufacturer of transformers, antennas, and industrial equipment, reported $3.63 billion in revenue for the first nine months of 2003.

SPX also said Monday that it will pay down $200 million of its outstanding loans on Wednesday.

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
Building A Mobile Business Mindset
Building A Mobile Business Mindset
Among 688 respondents, 46% have deployed mobile apps, with an additional 24% planning to in the next year. Soon all apps will look like mobile apps and it's past time for those with no plans to get cracking.
Register for InformationWeek Newsletters
White Papers
Current Issue
Top IT Trends to Watch in Financial Services
IT pros at banks, investment houses, insurance companies, and other financial services organizations are focused on a range of issues, from peer-to-peer lending to cybersecurity to performance, agility, and compliance. It all matters.
Video
Slideshows
Twitter Feed
InformationWeek Radio
Archived InformationWeek Radio
Join us for a roundup of the top stories on InformationWeek.com for the week of July 24, 2016. We'll be talking with the InformationWeek.com editors and correspondents who brought you the top stories of the week to get the "story behind the story."
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.