Stock Watch: Broadvision, Art Technology Settle Suit

One day after e-commerce infrastructure companies Broadvision (Nasdaq: BVSN) and Art Technology (Nasdaq: ARTG) settled a patent infringement suit, investors bid up the stocks of both companies. Shares of Broadvision, one of the top-performing stocks in the past year, soared 10.3 percent on Thursday, gaining 21-7/16 to 229-3/16. Shares of Art Technology gained more than 3.4 percent, climbing 4-13/16 to 144-13/16.

Under the terms of the settlement, Art Technology, which did not make any admission of wrongdoing, will pay Broadvision $15 million in licensing fees — $8 million this month and $7 million in the next three years. Broadvision will count the $15 million as revenue.

Also on Thursday, Broadvision announced strategic partnerships with e-business applications company STC and e-business solutions provider Informatica.

Leave a Comment

Please sign in to post or reply to a comment. New users create a free account.

Technewsworld Channels