12.16.09
SAP® and Security WeaverTM Settle Lawsuit
San Diego, CA
Security WeaverTM and SAP® have reached mutually agreeable terms of settlement to resolve the business dispute that prompted each party to file claims against the other in federal court. The confidential terms of settlement have resolved all outstanding issues between the companies, and as a result, all pending litigation has been dismissed. SAP, Security Weaver, and Security Weaver's founder, Sumit Sangha, have mutually released all claims against each other. Additionally, Security Weaver has entered into a new certification agreement with SAP and has begun the process of obtaining SAP certification for the current version of its products, expected to be released soon. Jens Weitzel, Vice President, Business Development of SAP AG’s Global Ecosystem & Partner Group comments, "SAP is committed to supporting the development and certification of third-party applications for the SAP NetWeaver® platform, and we look forward to working with Security Weaver in the future. We are pleased to have resolved this dispute." "Reaching these terms of settlement with SAP is an important milestone in the evolution of our company", says Neil McConnell, Chief Operating Officer of Security Weaver, LLC. "Both SAP and Security Weaver are committed to the vision of providing customers with best-in-class solutions." About Security Weaver: Security Weaver is a leading provider of governance, risk and compliance management (GRCM) software. Our flagship software suite, Security Weaver is engineered to give customers a unified view of their enterprise-wide application environment so they can reduce the risk of fraud, accelerate the efficiency of operations and ease the burden of ongoing compliance requirements. Security Weaver's suite of products includes tools for the management of enterprise wide segregation of duties (SOD) conflicts, full automation of the user provisioning process, control of privileged user access, configurable process controls and advanced audit analytics integrated with robust reporting and workflow capabilities. Organizations throughout the world are using Security Weaver to support a robust GRCM framework while providing Finance, IT and Audit with the tools and visibility they need to reduce the risk of fraud and ensure compliance. For more information, visit www.securityweaver.com.