Software International Inc. announced that it reached a settlement agreement with respect to its litigation against Subba Raju Indukuri, the former Chief Executive Officer and a director of SII and the principal officer and stockholder of the Amsol Companies, American Solutions Inc., Amsol Inc., IK Solutions Inc., Anthony Information Technology Inc. and Indtech Info Solutions Private Limited (collectively, the 'Amsol Companies') and other stockholders of the Amsol Companies. The litigation involved whether SII had completed the acquisition of the Amsol Companies pursuant to a Stock Purchase Agreement dated March 30, 2006. In accordance with the settlement agreement, the Amsol Companies agreed to pay SII the sum of $5.625 million (payable on a monthly basis through October 2008) in consideration of SII relinquishing any ownership rights with respect to the Amsol Companies. In addition, Subba Raju Indukuri forfeited all ownership rights with respect to securities of SII. In accordance with the settlement agreement, $1.5 million of the cash settlement is required to be held in escrow to protect certain indemnification obligations SII has to the Amsol Parties.