Savvysoft and Microsoft jointly announced today that they have
reached an amicable resolution of their dispute over the name of
Savvysoft's TurboExcel product.
Under the agreement, Savvysoft will change the name of the
TurboExcel product to Calc4Web. Savvysoft's Calc4Web product will be
co-marketed on Microsoft's Office Marketplace website and at industry
conferences.
Under the terms of the agreement, which is confidential, neither
company admits liability.
"Resolving this dispute is in the best interest of our customers,"
said Rich Tanenbaum, President and founder of Savvysoft. "Much more
can be gained by everyone if Savvysoft and Microsoft enjoy a mutually
beneficial relationship."
A Microsoft official said the company is pleased to resolve the
matter, noting that the agreement protects Microsoft's intellectual
property rights associated with the name of its trademarked Excel
spreadsheet software, while ensuring that Savvysoft can continue to
innovate.
About Savvysoft
Savvysoft is an award-winning New York City-based software
provider of portfolio and risk management systems, and market-implied
corporate default rates. Savvysoft also offers an add-on to the
Microsoft Office Excel spreadsheet that automatically turns
calculations into working C++ code. Its products are used by over 3000
institutions in 15 countries worldwide, including top-tier banks,
dealers, brokers, money managers, energy suppliers, corporate
treasurers, auditors and consultants. More information is available
online at www.savvysoft.com.
About Microsoft
Founded in 1975, Microsoft (Nasdaq "MSFT") is the worldwide leader
in software, services and solutions that help people and businesses
realize their full potential.
