Stamps.com, eBay Settle, Reach License Deal
EBay, San Jose, CA, will pay Stamps.com an undisclosed amount upfront, designated for settlement. The parties also agreed to a three-year license of software and intellectual property owned by Stamps.com.
Further details were not disclosed.
Stamps.com, Santa Monica, CA, filed a breach-of-contract suit in June 2003 against PayPal and eBay, claiming the companies derailed an agreement announced in July 2002 where it would provide shipping tools through the PayPal Web site.
"We are very satisfied with the outcome in this matter," said Ken McBride, CEO of Stamps.com. "This deal represents a terrific return to our shareholders for the large investment we have made in our technology and intellectual property."
"We are pleased to reach a mutually beneficial arrangement with Stamps.com," said Michael Jacobson, eBay senior vice president and general counsel.