Accenture, Guidewire Settle Patent Suits

Accenture and Guidewire Software Inc. have agreed to resolve all outstanding patent litigation between the companies concerning their respective insurance claims management software.

San Mateo, Calif.-based Guidewire has agreed to pay an undisclosed sum to New York, N.Y.-based Accenture, with a portion based on the final outcome of Accenture’s pending appeal in the federal circuit. As part of the settlement, Accenture and Guidewire also have agreed to cross license patents. All other terms of the settlement will remain confidential.

Accenture is a global management consulting, technology services and outsourcing company. The company’s reported net revenues were $25.5 billion for the fiscal year ended Aug. 31. Guidewire provides system software to the property and casualty insurance industry.