i2 settles with SAP, opening door to sale

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Posted Jun 26th 2008 12:00PM by Tech Confidential

On the block since November, supply-chain management software maker i2 Technologies Inc. (NASDAQ: ITWO) has eliminated on obstruction to a possible deal after it settled patent litigation with SAP AG. i2 disclosed in a regulatory filing on Thursday that it will receive $83.3 million as a result of the settlement with the German software giant.

Shares of i2 shot up 10% early in Thursday's session. Trading at $13.92, the company has a market capitalization of roughly $300 million, with a cash position of more than $200 million when accounting for the settlement based on the amount of cash it reported at the end of the first quarter.

In May, i2 disclosed it was in talks with at least two other parties who had shown "credible interest" in the company, but stressed the discussions were preliminary. Nevertheless, company chairman Jackson Wilson said at the time its board of directors agreed that a sale was the best alternative for the company.

Continue reading at TechConfidential.com.

Tags: i2 Technologies Inc., I2TechnologiesInc., ITWO, SAP

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