Mahindra Satyam approves settlement with Upaid
Date: 10-12-2009Mahindra Satyam has approved a settlement agreement under which it will make total payments of $70 million to Upaid Systems Ltd. Itould make a first payment of $45 million within 10 days of getting regulatory approval of the settlement.
A second payment of $25 million would be made within a year of the first payment. The settlement requires Upaid to give Mahindra Satyam a worldwide royalty-free licence on its patents, and provides for the dismissal of all pending actions between parties.crackcrack