In its second-largest acquisition, Amazon buys the company for $970 million.
CoolSavings and Hot Coupons settled their patent infringement dispute over technology to distribute coupons over the Internet.
CoolSavings.com Inc. and Hot Coupons settled their patent infringement dispute. CoolSavings had initiated the suit against Hot Coupons in 1998 for infringement of CoolSavings` patent on "Interactive Marketing Network and Process Using Electronic Certificates." Although specific terms of the agreement were not disclosed, Hot Coupons has been granted a limited, royalty-bearing license and an option to an unlimited license, which together would allow for future offerings based on CoolSavings technology. Since securing the CoolSavings process patent in 1998, the company has filed nine lawsuits in federal court in Chicago, all asserting infringement of CoolSavings` patent covering technology for distributions of coupons via the Internet. Since that time, CoolSavings has successfully settled seven of these suits with defendants including planetU, E-Centives and iVillage.