Overture sued over Fast acquisition

Norwegian company claims it owns Fast technology

[perkoch]

According to ws News.com Overture has been sued by the Norwegian company MRT Micro ASA. MRT claims that is owns some of the technology following the deal and asks for all of the proceeds from the US$ 70 million deal. The company has hired the Norwegian law company Gram, Hambro & Garman to lead the case.

According to the Norwegian site iMarkedet MRT Micro owns 40 percent of MRT Mpire, a company that MRT claims owns the technology used by Fast. Both MRT and Fast are spin-off companies from NTNU, the university in Trondheim, Norway.

Both Overture and Fast apparently deny the claims made by MRT.

This is not the first time Fast has been in conflict with MRT Micro. In June 1999 Fast released a press release where it formally refuted "unfounded allegations". Fast claimed that it made no use of the MRT Micro MS160 processor technology in any of FAST’s search technologies.

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[martinibuster]

Eh, not a problem. FAST has indemnified Overture against all claims.