National Instruments Inc. disclosed Thursday in its quarterly financial report that it settled the dispute with Trilogy Software Inc. Specific terms were not divulged, but National Instruments said it gained $4 million from a consolidation of facilities and the resolution of the dispute.
Trilogy, a software company, had told National Instruments, which develops software and hardware for test and measurement, that it intended to walk away from its lease for 136,000 sf in the Millennium Building in the northwest submarket. Trilogy had claimed economic hardship. National Instruments had said Trilogy was in default on the terms of the lease. National Instruments is publicly traded and Trilogy is privately held.
National Instruments owns the building, which overlooks Lake Austin. It is moving employees from there to a new building on its corporate campus on North MoPac Expressway.
Trilogy had grown quickly in the 1990s and ate up office space in Shepherd Mountain. It has since cut back and consolidated offices into the Plaza on the Lake building at 5001 Plaza on the Lake Drive.
National Instruments said it intends to use the $4 million to create a corporate foundation to promote scientific and engineering research and education at higher education institutions.
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