Seagate and eSys settle all claims

Sys Technologies and Seagate have agreed to settle all claims against each
other with neither admitting liability, thus ending a three-year-long dispute.
Both the companies agreed to keep the terms and condition of the out-of-court
agreement confidential.

"We will now move ahead and focus on growing the business and capitalizing on
acquisition opportunities," commented Akash Deep Sharma, Director, eSys
Technologies.

Back in 2006, eSys was the largest distributor of Seagate accounting up to
five percent of the vendor's revenue. However, the partnership was broke down in
November 2006 when Seagate terminated its global contract with eSys alleging
that eSys had refused to cooperate with an audit of Point of Sale records.
Seagate claimed that the eSys officials had indicated that an audit would
'likely reveal' irregularities. eSys had denied all allegations of
irregularities and opined that its refusal was due to the intrusive nature of
the audit.