Oracle, HP Partnership Intact after HP Settles with Hurd

Lora Bentley
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Just two weeks after Hewlett-Packard filed a lawsuit against former CEO Mark Hurd for taking a position at Oracle, the parties have reached a settlement out of court. The New York Times reports HP modified Hurd's separation agreement after Hurd agreed to waive nearly half the compensation to which he was entitled.

 

Most likely, Hurd will also be prohibited from making decisions at Oracle that would allow him to use HP's confidential information, according to FBR Capital Markets senior managing director David Hilal. Hilal pointed out that the deal likely grew out of the parties' desire to preserve their decades-long partnership, which was imperiled from the moment Oracle CEO Larry Ellison lambasted HP's board for pushing Hurd out.

 

Preserving the partnership was more important to Oracle than proving HP's claims wrong. And as writers Ashlee Vance and Verne Kopytoff noted, representatives from both companies made clear their partnership was still intact-and that they plan to continue to expand it. Oracle's Ellison said of the agreement:

Oracle and HP will continue to build and expand a partnership that has already lasted for over 25 years.


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