IBM pays off Time
Coughs up £13m compensation
British PC retailer Time Computers has won a victory over IBM in a £13 million dispute.
The legal feud kicked off between the two PC heavyweights after Time claimed IBM UK allegedly supplied it with faulty computer components. The two were set to fight it out in the High Court in London yesterday, but a settlement was reached at the eleventh hour, saving Big Blue being dragged through the legal system and media spotlight.
The two companies refused to comment on the compensation figure, which according to an article in The Observer was £13 million. A Time representative said: "The case has come to an end, and Time is happy to draw a line under this episode."
IBM came up with an imaginative "no comment", claiming proceedings hadn't yet gone through on its side yet.
Time, based near Burnley, expects sales to top £300 million this year and has 2000 staff. Tahir Mohsan - who started the company in 1987 with his brother Dr Mohammed - is worth an estimated £175 million.
Time was the third biggest home PC seller in the UK in the first quarter of this year, according to figures from research company IDC. IBM was beaten in the market by rivals including Compaq, HP, Apple, Gateway, Viglen, Tiny and Dell. ®