Tatsoft, Houston, recently announced in a press release that has it reached a significant settlement agreement with Schneider Electric Software and other parties that ended a long-term contractual dispute, by Tatsoft accepting a substantial payment and protection on legal costs.
Tatsoft, the producer of the software FactoryStudio for Industry 4.0, received a $1 million payment and indemnification payment on legal costs estimated at several million dollars. The settlement was reached only moments before trial was set to commence. The settlement ended all disputes among various parties, including Schneider Electric Systems USA (formerly Invensys), Schneider Electric Holdings and Tatsoft, which is represented by the law firm Gregor Cassidy, PLLC. The parties dismissed with prejudice all claims and established provisions to prevent future legal disputes.
FactoryStudio is a software platform that allows clients to easily find solutions to monitor and manage the creation of distributed real-time data. FactoryStudio has been applied in advanced SCADA, MES, factory-floor Digital Signage, Edge computing, Drilling Data Aggregation, IIoT and Operation Center applications.
Said one industry consultant with an expertise in the industrial automation market, "The legal battle was long and very public. Many distributors feared they would be drug into the legal battle, and a few were actually deposed. Distributor customers backed away from purchases based on the comments dropped by competitors. The legal mess is over."