infotechlead
infotechlead

Ford asked to pay Versata Software $104 mn for breaching contract

A federal jury in Detroit ordered Ford Motor to pay Versata Software $104.6 million in damages for breaching a 2004 licensing contract and misappropriating trade secrets, Reuters news report said.
FordJurors deliberated over two days before holding Ford liable on Tuesday, following a 15-day trial.

Versata, based in Austin, Texas, said it licensed its automotive software to Ford from 1998 to 2015, helping the automaker’s engineers and marketing agents collaborate on and design vehicles with seamless real time updates worldwide.

It said Dearborn, Michigan-based Ford began copying its software after growing weary of paying millions of dollars in annual licensing fees, and in 2014 rejected a final offer to license Versata’s major software for $17 million a year.

More than $82.2 million of the jury award was for breach of contract, with the remaining $22.4 million for trade secret misappropriation. Versata’s damages expert testified that the company suffered $59.9 million in trade secret damages.

“While we respect the jury’s decision, we believe the facts and the law do not support this outcome,” Ford said in a statement. “Ford will appeal the verdict.”

The litigation began in April 2015, when Ford sought a court order that it did not infringe Versata’s intellectual property.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest

More like this
Related

Tech deals: Shield AI, Nabla, QUODD

Technology companies such as Shield AI, Nabla, QUODD, among others, announced their tech...

Zoom Boosts Outlook for FY26 as AI Investments Accelerate Enterprise Adoption

Zoom Communications has reported revenue of $1.23 billion, up 4.4...

Lyft to Open New Tech Hub in Toronto as Part of Global Expansion Drive

Lyft has announced plans to open a new technology...

Cisco Webex Leverages AI to Transform Contact Centers and Workplace Collaboration for Faster, Smarter Customer Experiences

Cisco is revolutionizing customer interactions and workplace collaboration with...