Citicorp and Automatic Data Processing Inc have settled their copyright infringement differences, and Automatic Data is to acquire the international equities business and Securities Industry Software Corp of Citicorp’s Quotron Systems Inc. Quotron’s lawsuit against Automatic Data for copyright infringement is to be settled as part of the agreement. Automatic Data also signed a perpetual […]
Citicorp and Automatic Data Processing Inc have settled their copyright infringement differences, and Automatic Data is to acquire the international equities business and Securities Industry Software Corp of Citicorp’s Quotron Systems Inc. Quotron’s lawsuit against Automatic Data for copyright infringement is to be settled as part of the agreement. Automatic Data also signed a perpetual licensing agreement to use the Quotron Trading Support System software and Quotron entered into a Stipulation of Partial Consent Agreement with Automatic Data in which the latter consented to stop copying its proprietary computer programs and adopt clean room procedures for its software development. The financial terms of the agreement have not been disclosed.
