DUBLIN, Calif., May 25 /PRNewswire-FirstCall/ -- Sybase, Inc. , today announced that it will appeal the decision of the jury in the Telecommunication Systems (TCS) vs. Mobile 365 patent infringement trial, which found that Mobile 365, a recently acquired subsidiary of Sybase, Inc., infringes the patent asserted in the case. The jury awarded TCS damages in the amount of $12.1 million. Of this amount, it is expected that Sybase would bear responsibility, should its appeal not prevail, for approximately $1.5 million after reflecting merger indemnification rights described below. While Sybase respects the jury system, it believes that the jury made a mistake in its decision, and the Company intends to appeal.
The November 2006 merger agreement entered into by Sybase and Mobile 365 established an escrow which provides for indemnification of Sybase by Mobile 365's former stockholders for certain losses related to this litigation. Sybase believes that the escrow established by the merger agreement will be adequate to address the substantial majority of losses, if any, related to this litigation.
The case was tried in the Richmond division of the United States District Court for the Eastern District of Virginia, the Honorable James Spencer presiding.
About Sybase, Inc.
Sybase is the largest global enterprise software company exclusively focused on managing and mobilizing information from the data center to the point of action. Sybase provides open, cross-platform solutions that securely deliver information anytime, anywhere, enabling customers to create an information edge. The world's most critical data in commerce, finance, government, healthcare, and defense runs on Sybase. For more information, visit the Sybase Website at http://www.sybase.com/.
Sybase and Mobile 365 are registered trademarks of Sybase, Inc. or its subsidiaries. All other company and product names mentioned may be trademarks of the respective companies with which they are associated.
Special Note: Statements concerning Sybase's anticipated indemnification by the former Mobile 365 stockholders including the timing, rights to and amount or adequacy of such indemnification; and future actions in the TCS litigation, including appeals or requests for royalties, are by nature forward-looking statements that involve a number of uncertainties and risks, and cannot be guaranteed. The words "anticipate," "believe," "estimate," "expect," "intend," "will" and similar expressions relating to Sybase and its management may identify forward-looking statements. Such statements are intended to reflect Sybase's current views with respect to future events and may ultimately prove to be incorrect or false. Factors that could cause actual events or results to differ materially may include the results of pending litigation and appeals and the status of indemnification claims and any potential disputes of such indemnification claims. These and other risks are detailed from time to time in Sybase's Securities and Exchange Commission filings, including, but not limited to, its annual report on Form 10-K and its quarterly reports on Form 10-Q (copies of which can be viewed on Sybase's Web site).
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