Irish airport software company Datalex has settled a legal dispute over alleged breach of contract with Flight Centre of Australia.
Flight Centre Ltd (Flighties) and its South African subsidiary brought a breach of contract case against Datalex in relation to a software development contract. In an action in the Supreme Court of Queensland, Flight Centre was seeking damages of US$14m.
“Datalex today announces that it has successfully settled its legal case with Flight Centre of Australia. Datalex and Flight Centre have negotiated in good faith and resolved the proceedings to their mutual satisfaction.
“The settlement, which will complete in 2012, will result in a Balance Sheet adjustment of approximately US$2m as an exceptional item in 2011, against receivables and unrecovered expenditures. The guided operating performance for EBITDA and year-end cash for 2011 is unaffected,” Datalex said.
The Dublin-headquartered company said the conclusion of proceedings will allow it to focus on what it described as a strong business pipeline and growth projected for 2011.
