What did those disgruntled shareholders want to know from Intergraph? This...
Sony agreed on March 31, 2006 to pay Intergraph US$15.0 million in royalty payments on the Clipper patent, which was illegally used by Intel for its CPUs. The net amount was $8.6 million, after taxes and expenses.
Acer agreed on April 24, 2006 to pay Intergraph US$7.5 million royalty.
On June 14, 2006, Intergraph sued Fujitsu Siemens Computers in Germany, and that case is continuing.
On June 28, 2006, Intergraph sued Toshiba and NEC in California, and the case continues.
Intergraph's real estate holdings are worth:
- North Campus Business Park = $65.0 million.
- South Campus Business Park = $32.0 million.
Of great interest is the value of Intergraph's 1/4-ownership of Bentley Systems. The wording becomes murky at this point:
Bentley Systems, Inc. stake. In calculating implied equity value of Intergraph, Goldman Sachs valued Intergraph's approximate 25% diluted stake in Bentley Systems, Inc., or Bentley, by annualizing Bentley's first quarter 2006 EBITDA, and applying valuation multiples consistent with software companies with a significant service component and a 30% private company liquidity discount. The valuation assumed a 36.0% tax rate and a tax basis in such stake of approximately $9.2 million.
Maybe someone else can figure out Bentley's value from those numbers above.
And maybe someone can speculate on what Intergraph going private means for Bentley, which at one point had dreams of going public.
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