08 February 2016

EasyScreen destabilised by software problems and patent uncertainties

24 March 2005  |  8500 views  |  0 solarised graph

Software problems and patent litigation uncertainties contributed to a deterioration in trading conditions for UK direct access technology vendor EasyScreen, which last week accepted a £14.8 million takeover bid from futures broker Refco.

A third quarter results statement issued by EasyScreen today reveals the true extent of the problems plaguing the company. Production problems with the latest version of the company's software and delays in development of the new ASP-based EasyExchange solution have contributed to a 13% dip in sales and losses of £0.9 million for the third quarter.

EasyScreen says a service pack upgrade is currently being implemented, to address performance, stability, scalability and support issues for clients upgrading to Version 2.2 of the company's software, and that other development projects which were completed in January 2005 will now not be available in production until the next calendar quarter.

This period was also notable for the destabilising effect of patent infringement claims by rival US-based vendor Trading Technologies. Earlier this month TT announced a claim for patent infringement against Refco, including the EasySolution joint venture.

EasyScreen maintains that its software is not at material risk from TT's patents. Nonetheless, says Philip Docker, EasyScreen chairman, "the uncertainty is having an impact in signing of new contracts and I expect this uncertainty to continue for some time to come".

In particular, a major deal with Man Financial, announced by EasyScreen last October, has been put on hold indefinitely until outstanding patent issues have been resolved.

EasyScreen, which has welcomed the approach by Refco, says the trading outlook remains uncertain with little prospect for an improvement in turnover going into the final quarter.

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

17 March, 2005
25 November, 2004
28 September, 2004
05 April, 2004
30 March, 2004
22 March, 2004
16 December, 2003
01 December, 2003

Related company news


Top topics

Most viewed Most shared
Fintech rising: Resistance is futile, says...
10720 views comments | 48 tweets | 41 linkedin
Digital transformation driving earnings at...
9089 views comments | 43 tweets | 36 linkedin
ECB eyes up European P2P payments
7730 views comments | 28 tweets | 38 linkedin
Visa opens up to developers
7433 views comments | 23 tweets | 40 linkedin
It may take ten years, but blockchain tech...
6282 views comments | 20 tweets | 19 linkedin

Featured job

Competitive Package
New York City, NY. USA

Find your next job