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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Oracle Corp | NYSE:ORCL | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 1.04 | 0.90% | 116.00 | 116.21 | 115.07 | 116.12 | 4,484,978 | 01:00:00 |
From May 2019 to May 2024
By Anjie Zheng
HONG KONG--Alibaba Health Information Technology Ltd. (0241.HK) said Tuesday it had settled a legal dispute with Oracle Beijing and Oracle Hong Kong over payment for a licensing agreement for database management software signed in 2006, and that Alibaba Health Information Technology will be refunded its deposit of $11 million plus $1.2 million in interest.
The dispute is related to fee payments for a licensing and service agreement signed between Oracle Beijing and Citic 21CN, a subsidiary of Alibaba Health Information Technology.
As part of the settlement, Citic 21CN will pay Oracle Beijing a 37.2 million yuan (US$5,995,648) settlement.
Hong Kong-listed Alibaba Health Information Technology said in a statement that it no longer needs Oracle's database management software, since it has migrated its own database of drugs onto an Alibaba Cloud platform, and therefore has no need for the licensing agreement.
Alibaba Health Information Technology expects a before-tax loss of HK$34.1 million (US$4.4 million) due to the disposal of the agreement.
Write to Anjie Zheng at anjie.zheng@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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