Manufacturers

Tatsoft Accepts $1M Settlement from Schneider Electric

Tatsoft Accepts $1M Settlement from Schneider Electric

HOUSTON – Tatsoft LLC announced that it reached a significant settlement agreement with Schneider Electric Software LLC 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.

“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, 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.

Tagged with ,

Comment on the story

Your email address will not be published. Required fields are marked *