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9 May 2003

Overture Sued Over FAST Purchase

Looks like Overture is having a very bad month. CNET has reported this morning that the pay-per-click giant is being sued over their recent purchase of FAST Search and Transfer. The legal action was revealed in a filing Overture made with the Securities Commission on Wednesday.

A company called MRT Micro ASA filed suit in Massachusetts seeking permanent injunctions blocking the sale and a claim of all proceeds from the USD 70 million deal. MRT Micro claims that technology being acquired by Overture as part of the sale actually belongs to them. Overture plans to fight the law suit.

>> This is apparently not the first time MRT have threatened legal action involving a claim to FAST technology. A search for MRT Micro ASA on Google brings up a cached press release of FAST's from 1999, rejecting MRT's prior claim that FAST was using their processor:

"Allegations emanating from MRT Micro ASA (MRT Micro) are totally false and untrue. FAST is not and has no intention of making use of the out-dated MS160 or any other technology from MRT Micro", said FAST Chairman at the time, Thomas Fussell, " FAST has had no contact with MRT Micro and I find it strange that we have had no direct approach from MRT Micro in pursuit of these claims.

I can only believe that this is an attempt by certain parties to associate themselves with FAST's undoubted success and in some way profit for themselves."

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