Intel terminates deal with LogMeIn

Intel terminates deal with LogMeIn

software maker company logmein said it will terminate the deal with intel due to lack of market demand for the co-developed technlogy. in the month of july logmein repoted the possibility of intel corp ending this multi year deal in a year only. during this agreement, intel paid logmein, logmein is a software maeker company.

which makes software to access computers remotely by using the Internet, a minimum quarterly license and service fee of $1.25 million.Intel will continue to owe LogMeIn the minimum quarterly fees for the rest of 2010.and this way they have to pay a one-time termination fee of $2.5 million.LogMeIn also said it intended to defend patent infringement claims made by 01 Communique Laboratory Inc seeking damages and injunctive relief Shares of the company.which have risen almost 60 percent since their debut in July last year.

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