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The yearlong legal battle between commercial real estate data giant CoStar and its largest competitor, Xceligent, could be nearing its conclusion.
According to the Wall Street Journal, citing unnamed sources, the parties are reportedly in advanced talks to settle the case, which began in December 2016 with CoStar's intellectual property theft lawsuit.
"We cannot discuss any such conversations," an Xceligent spokesperson told Bisnow. "There is a mediation process in civil cases that is confidential by court order, and anyone who was to discuss those conversations with a reporter could be facing jail time and should be concerned with the legal repercussions."
When reached Wednesday night, CoStar representatives declined to comment to Bisnow.
D.C.-based CoStar has ramped up its pressure on Xceligent in recent weeks as the the Kansas City, Missouri-based firm has traversed a leadership shake-up and financial challenges.
Monday, CoStar filed notice in court of eight new subpoenas and four depositions of current and former executives of Xceligent and its parent company, London-based Daily Mail and General Trust. Among those to be subpoenaed for documents is Doug Curry, the founder and former CEO of Xceligent, who left the company in October.
CoStar also recently filed depositions of third-party contractors Xceligent has worked with. The first third-party contractor it went after, RE BackOffice, conceded to a Pennsylvania court in a separate suit that Xceligent directed the company to hack CoStar's websites.
The next day, Curry was out as CEO.
Following CoStar's initial suit, Xceligent, under Curry's leadership, responded with a 139-page antitrust countersuit and the founder planned to go on a nationwide tour to rally support for its effort. Xceligent's new leader, former Hanley Wood CEO Frank Anton, has said he has less passion about the legal battle than his predecessor.
DMGT last week wrote Xceligent's value down to zero and said it is exploring all business options for the company.
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