It turns out that even the titans can play nice when they need to. HP and Oracle have come to a (confidential) settlement over the hiring of the ex-HP CEO Mark Hurd.
One listed term of the settlement was that “Mr. Hurd will adhere to his obligations to protect HP’s confidential information while fulfilling his responsibilities at Oracle.” If he does not, we might get one of the larger corporate legal spats in some time to watch.
For now, here is the official press release:
HP and Oracle Corp. today reaffirmed their long-term strategic partnership and the resolution of litigation regarding Mark V. Hurd’s employment at Oracle. While the terms of the settlement are confidential, Mr. Hurd will adhere to his obligations to protect HP’s confidential information while fulfilling his responsibilities at Oracle. The agreement also reaffirms HP and Oracle’s commitment to delivering the best products and solutions to their more than 140,000 shared customers.“HP and Oracle have been important partners for more than 20 years and are committed to working together to provide exceptional products and service to our customers,” said Cathie Lesjak, chief financial officer and interim chief executive officer, HP. “We look forward to collaborating with Oracle in the future.”
“Oracle and HP will continue to build and expand a partnership that has already lasted for over 25 years,” said Oracle CEO Larry Ellison.