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
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