PowerPlan, Inc., a financial software and solutions provider, announced on Thursday that it has reached a settlement with the software firm Lucasys, Inc., agreeing to an after-tax payment of $17.7 million.
The litigation, which was under the jurisdiction of the U.S. District Court for the Northern District of Georgia, concludes with all claims between both parties being dismissed. Importantly, the settlement does not imply any admission of liability or misconduct by either entity.
PowerPlan, owned by Roper Technologies Inc. (ROP), now aims to redirect its efforts towards developing its next-generation SaaS technology offerings. This includes enhancements to its Tax Fixed Assets solutions and the anticipated introduction of its monthly Tax Provision SaaS solution.
