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Technology Stocks : Disk Drive Sector Discussion Forum

WDC 172.26

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Dec 31 3:59 PM EST

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To: Yogi - Paul who wrote (8351)	5/17/2000 8:42:00 AM
From: Ted The Technician	Read Replies (1) of 9256

EMC cancels IBM contract - implications? NEW YORK, May 15 (Reuters) - EMC Corp. (NYSE:EMC - news), the world's largest buyer of disk drives on Monday said, as part of the legal settlement announced last week with International Business Machines Corp. (NYSE:IBM - news), it is no longer committed to buying about $3 billion worth of disk drives from the world's biggest computer maker. ``It removed the specific revenue milestone targets,'' EMC spokesman Mark Fredrickson said of the lawsuit settlement announced May 12. Fredrickson said IBM's problems with its new high-storage disk drives contributed to EMC's decision to rely on its other suppliers, such as Seagate Technology Inc. (NYSE:SEG - news). But he declined to say how many disk drives EMC has purchased from IBM or their cost. On Friday, IBM and EMC said they settled claims in a their long-standing patent dispute that centred around Data General Corp., the computer supplier EMC bought last fall. Data General filed the first lawsuit against IBM in 1994, over patents concerning design of powerful computers that run networks of other computers, known as servers. IBM countersued in regards to patents related to storage products. On Friday, the two companies said they agreed to a five-year moratorium on future lawsuits and also agreed to extend their patent cross-license agreement by an extra two years. An IBM representative was not available for immediate comment.

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