August 12, 2005, 12:00 AM

Amazon settles technology patent suit for $40 million

Amazon.com Inc. has agreed to pay $40 million to settle a patent infringement lawsuit by Soverain Software, a provider of e-commerce transaction management technology, Amazon said.

Paul Demery

Managing Editor, B2B E-commerce

Amazon.com Inc. has agreed to pay $40 million to settle a patent infringement lawsuit by Soverain Software LLC, a provider of e-commerce transaction management technology, Amazon said in a filing this week with the Securities and Exchange Commission.

Under terms of the settlement, Amazon will make a one-time payment of $40 million in the third quarter of this year, and Soverain will grant Amazon a non-exclusive license to its patent portfolio and dismiss all claims, the SEC filing says. Soverain, based in Chicago, filed the lawsuit on Jan. 12, 2004, in the U.S. District Court for the Eastern District of Texas.

Soverain executives were unavailable for comment.

 

 

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