Oracle Takes SAP To Trial and Is Seeking $2.3 Billion In Damages
Oracle Corporation (NASDAQ:ORCL) has taken SAP AG (NYSE:SAP) to court and they are seeking $2.3 billion in damages for “inappropriate” downloads of Oracle materials. Former SAP CEO Leo Apotheker and Oracle CEO Larry Ellison may both have to get testimonies about the trial.
TomorrowNow is a company that was founded in December 1998 by Andrew Nelson and Seth Ravin to provide technical services for Oracle PeopleSoft licensees. SAP bought out TomorrowNow in January 2005 and then closed the subsidiary in 2008 because of a lawsuit filed by Oracle. Now that lawsuit is in trial.
Larry Ellison said that SAP stole Oracle software and resold technology at bargain-basement prices. Ellison also disapproves of Hewlett-Packard hiring Apotheker as their new CEO. HP’s hiring of Apotheker may have to do with Oracle hiring former HP CEO Mark Hurd as co-president of the company. Its like a Silicon Valley soap opera.
“It has gotten very, very personal. And it’s not going to stop,” stated MIT Sloan School of Management lecturer Howard Anderson in an interview with Reuters.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry