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Visual Sciences Settles Patent Case
Web analytics provider Visual Sciences has resolved its patent infringement lawsuit with NetRatings and agreed to pay it $9m, of which $2m is due immediately and the remaining $7m payable in quarterly instalments of $500,000 commencing at the end of March 2008.
The action was launched in 2006 when NetRatings filed against Visual Sciences, formerly known as WebSideStory, alleging infringement of five NetRatings-owned patents relating to the collection, analysis and reporting of computer usage activity (www.mrweb.com/drno/news5137.htm ).
According to Visual Sciences CEO Jim MacIntyre. 'We believe the settlement provides benefits to all areas of our company. Our clients can continue to make strategic commitments to our web analytics solutions confident that their interests have been protected. Our shareholders can move forward with their investments in the company without the uncertainty engendered by the litigation. And our management team can concentrate on executing the company's plan without the distractions caused by the litigation.'
In a statement, Visual Sciences said that the companies have now exchanged non-exclusive worldwide licenses to certain patents and patent applications. No further details were given.
An additional clause in the agreement states that Visual Sciences will pay an additional $2.25m if the company changes hands during the period under dicsussion - in July the firm engaged Goldman Sachs to respond to a number of unsolicited queries from potential buyers. Since the announcement, the firm's shares have edged upwards, which analysts say is in response to reduced expenses associated with settlement of the lawsuit.
Founded in 1996 and headquartered in San Diego California, Visual Sciences provides real-time analytics applications for web sites, contact centres, retail points-of-sale, messaging systems and the intelligence community. Online audience measurement NetRatings is a division of The Nielsen Company. Web sites are www.visualsciences.com and www.nielsen-netratings.com.
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