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INFORMATICA SETTLES TRADE-SECRET MISAPPROPRIATION LAWSUIT BROUGHT AGAINST ASCENTIAL
REDWOOD CITY, Calif., July 23, 2003 - Informatica Corporation (NASDAQ: INFA), a leading provider of data integration and business intelligence software, today announced that it has settled its lawsuit against Ascential Software Corporation (NASDAQ: ASCL). As a result of the settlement, Ascential has agreed to a consent judgment against its company and a permanent injunction preventing any further use or dissemination of Informatica's proprietary and trade-secret information. The settlement requires an independent, third-party audit of Ascential's information systems to ensure that Ascential is no longer using Informatica's proprietary information, and that all Informatica material in its possession has been returned or destroyed. In addition, Ascential will make a payment to Informatica of $1.6 million.
“We are pleased that Ascential will be prohibited by court order from using our proprietary materials in future competitive activity,” said Peter McGoff, vice president and general counsel of Informatica. “Informatica remains committed to taking all necessary action to protect its intellectual property assets now and in the future.”
The lawsuit against Ascential and two individual defendants sought damages for misappropriation of trade secrets, copyright infringement and unfair competition. The two former Ascential employees admitted they misappropriated Informatica's trade secrets and shared such information with Ascential sales and marketing employees, including certain Ascential sales executives. Consent judgments were entered against each individual defendant with the court entering orders prohibiting both from using or disclosing Informatica's proprietary and confidential trade secret information.
About Informatica
Informatica Corporation (NASDAQ: INFA) is a leading provider of data integration and business intelligence software. Using Informatica products, Global 2000 companies can leverage their existing information assets for enterprise insight that helps them improve business performance, increase customer profitability, streamline supply chain operations and proactively manage regulatory compliance. With more than 1,800 companies worldwide, Informatica addresses companies' end-to-end needs for enterprise data integration and business intelligence. For more information, call 1.650.385.5000 (1.800.970.1179 in the U.S.), or visit the Informatica Web site at http://www.informatica.com/
Note: Informatica is a registered trademark of Informatica Corporation in the United States and in jurisdictions throughout the world. All other company and product names may be trade names or trademarks of their respective owners.
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