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Elastic Acquires Endgame For $234 Million

Elastic -- a publicly traded company that builds custom search solutions for enterprises -- has announced it's acquiring cyber-security startup Endgame in an all-stock deal worth $234 million. The acquisition is subject to customary adjustments. Endgame has raised $111 million in total funding according to Crunchbase data. The $234 million acquisition price is a near 50% discount to a previous $465 million valuation (Pitchbook data).

Endgame's backers include Kleiner Perkins, Bessemer Venture Partners, Columbia Capital, Edgemore Capital, Savano Capital Partners and Paladin Capital Group. The Arlington, Virgina-based security startup's customers include the U.S. military and some Fortune 500 companies.


Elastic says the addition of Endgame will further advance its ability to offer a comprehensive security solution that's integrated with its own security information and event management (SIEM) products. "....By joining forces with Elastic, we will be able to take ou…

Facebook and Zenimax Settle Oculus VR Legal Battle

Oculus co-founder Palmer Luckey
Photo by Diarmuid Greene/Web Summit via Sportsfile

Video game company Zenimax has settled its legal battle with Oculus parent Facebook putting an end to a 4 year clash between both companies over allegations of Oculus using "trade secrets, copyrighted computer code, and technical know-how relating to virtual reality technology" provided by Oculus CTO John Carmack who previously was at Zenimax after its acquisition of id Software, the video game developer he co-founded.

After the $3 billion Oculus acquisition, Zenimax took Facebook to the courts over alleged use of its intellectual property in development of key parts of Oculus technology, It claimed that Carmack helped hire several former ZeniMax/id Software employees who possessed technical knowledge of its VR technology that allowed them to rapidly fine-tune the VR testbed system used in creating the Oculus Rift.

Oculus CTO John Carmack

Photograph by Drew "Prognar" Campbell on Flickr

Zenimax said in its filing that it "invested tens of millions of dollars in research and development" into virtual reality technology and claimed "Oculus and Luckey (its creator) lacked the necessary expertise and technical know-how to create a viable virtual reality headset" leading to a seek of "expertise and know-how from Zenimax."

$500 million was awarded by a jury as compensation to Zenimax for violation of a non-disclosure agreement by Luckey, a price later halved to $250 million after appeal, Zenimax fought against this decision but has now closed the case with a settlement between both parties.

Oculus co-founder Brendan Iribe

image credit : Sportsfile (Web Summit)

“We are pleased that a settlement has been reached and are fully satisfied by the outcome,” ZeniMax CEO Robert Altman said. “While we dislike litigation, we will always vigorously defend against any infringement or misappropriation of our intellectual property by third parties.”

“We’re pleased to put this behind us and continue building the future of VR,” A Facebook spokesperson added. Terms of this settlement were not disclosed.




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