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"These funds will provide vital support for the U's technology education, research and infrastructure," says H. Ted Davis, dean of the Institute of Technology.
U benefits from Microsoft settlement
Five million dollars come at a crucial time
Published on July 3, 2004
In terms made public on Thursday, Microsoft Corp. has agreed to pay $241.4 million to settle an antitrust lawsuit alleging that the company had a monopoly on Microsoft Windows, Word, and Excel software and overcharged for those products.
Although, as a consumer, the University may be eligible to request funds or vouchers as part of the settlement, it will benefit immediately through a sort of good-faith gesture from Microsoft. The company will give the University $2.5 million in cash and $2.5 million in general-purpose vouchers for technology enhancements. Legal aid programs for the poor and the state Department of Education will also benefit from the same arrangement.
"We are pleased that this settlement recognizes the unique role the University of Minnesota plays in advancing technology in our state," says H. Ted Davis, dean of the Institute of Technology. "These funds will provide vital support for the U's technology education, research, and infrastructure."
Davis says a broad group will be convened to determine the University's high-priority needs and the specific programs on which to spend the Microsoft funds. "We will look at everything from student and research needs to our needs at the broad system level," says Davis. "This support comes at a critical point for us as we face unprecedented state budget reductions that make it difficult to sustain world-class programs and advances in technology here at the University."