Feeds

IBM gets damages for Plasmon poaching

Claims Steve Murphy broke holder agreement

Next gen security for virtualised datacentres

IBM is receiving undisclosed damages after it and Plasmon CEO Steve Murphy settled a dispute about Plasmon's apparent poaching of ex-Softek employees working for IBM.

IBM bought Softek, a storage array data migration company headed by Steve Murphy, in January 2007. It arranged a holder agreement with Murphy, who left at that point, which stopped him trying to persuade certain IBM employees, understood to be ex-Softek ones employed by IBM, to work with him in other ventures.

Plasmon CEO Steve Murphy

Steve Murphy (right) was appointed as Plasmon CEO in November 2007, and then, IBM says, he "engaged in conversations with and offered employment to several [ex-Softek] IBM employees in violation of his holder agreement". Some of these employees joined Plasmon.

Consequently IBM entered into a legal dispute process with Murphy and a confidential settlement has been reached which involves the payment of undisclosed damages to IBM.

This dispute could hardly have helped Plasmon in its negotiation of marketing and support arrangements with IBM, such as Fibre Channel interfaces to its optical libraries for IBM i systems customers, and a FileNet deal. It must also have been an unwelcome distraction during Plasmon's recent struggles to obtain private equity funding which have resulted in lay-offs both sides of the Atlantic Ocean.

The company in the USA is still struggling to find a way forward with its major secured creditor and potential investors.

Everything is now, it appears, sweetness and light between IBM and Steve Murphy. David Johnson, IBM's VP for corporate development, said: "IBM is pleased that it could resolve this dispute amicably. IBM takes these matters seriously and will strictly enforce its legal rights as set forth in the holder agreements it enters into with executives of acquired companies.”

There you have it - don't sell your company to Big Blue and hire back key employees. ®

Next gen security for virtualised datacentres

Whitepapers

Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Advanced data protection for your virtualized environments
Find a natural fit for optimizing protection for the often resource-constrained data protection process found in virtual environments.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.