Tatsoft announces settlement with Schneider Electric
Tatsoft LLC announced that it has reached a settlement agreement with Schneider Electric Software LLC and other parties that ended a long-term contractual dispute.
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.
Tatsoft's core product, FactoryStudio, is a software platform that allows clients to easily find solutions to monitor and manage the creation of distributed real-time data. It is used by automation and control engineering and IT teams for situational awareness projects and real-time decision-making systems, from the plant floor to the executive management level.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
