Tribal Group agrees settlement with software platform provider

(Sharecast News) - Education management software company Tribal Group has resolved its dispute with its software platform provider, it announced on Friday.
The AIM-traded firm said it signed a settlement agreement for the payment of the agreed amount of ?8.9m, for full and final settlement of past royalty disagreements, which would be paid from its existing cash resources.

It said it also entered into a new 10-year VAR agreement, with effect from 1 January.

"This provides a platform from which we can develop new modules and enhanced functionality," Tribal said in its statement. Tribal Grp.