Visual Sciences announced that it has settled the patent litigation between the company and NetRatings, Inc.
Under the terms of a settlement and patent license agreement, the company and NetRatings have agreed to dismiss the pending lawsuits the parties filed against each other in February 2006 and have exchanged non-exclusive worldwide licenses to certain patent and patent applications owned by the other party. Visual Sciences has also agreed to pay NetRatings $9.0 million, of which $2.0 million is due upon execution of the settlement and patent license agreement with the remaining $7.0 million payable in quarterly installments of $500,000 commencing on March 31, 2008. In addition, in connection with a change in control of Visual Sciences an additional payment of $2.25 million would be payable to NetRatings and $2.0 million of the $7.0 million in ongoing payments would be accelerated.
That’s a lot of money for Visual Sciences and I am not sure if this really helps Visual Sciences to get back on track with competing against Omniture.
