Tatsoft accepts $1 million settlement from Schneider Electric
Tatsoft LLC announced today it reached a significant settlement agreement with Schneider Electric Software LLC and other parties that ended a long-term contractual dispute and lawsuit, by Tatsoft accepting a substantial payment and protection on legal costs. With the settlement, all parties dismissed all of their claims.
Tatsoft, the producer of the software FactoryStudio for Industry 4.0, received a $1 million payment and indemnification protection on legal costs, estimated at several million dollars. The settlement was reached only moments before trial was set to commence.
“It’s a winning milestone for Tatsoft and our forward-thinking integration partners,” said Marcos Taccolini, CEO of Tatsoft LLC. “This settlement simplifies our operations and brings more resources for the development of the FactoryStudio technologies and for the support of our growing installed base.”
The settlement ended all disputes among various parties, including Schneider Electric Systems USA (formerly Invensys), Schneider Electric Holdings and Tatsoft, represented by the law firm Gregor Cassidy, PLLC. The parties dismissed with prejudice all claims in all pending lawsuits and established provisions to prevent future legal disputes.