Waterloo-based OpenText Corp. revealed this morning that it is seeking nearly $300 million in damages from Box, an online storage company, over claims of infringing on 12 patents across 200 claims.
The timing of the Canadian company’s assault couldn’t be worse for Box, who just last week filed plans to raise up to $250 million in an initial public offering. The company generated $124 million in 2013, up from $59 million in 2012. However, it has never been profitable since being founded in 2005.
OpenText filed the patent-infringement suit against Box in June in the US District Court for the Northern District of California.