Company hopes to get over £20 million from antitrust claim.

Team Internet Group (AIM: TIG, OTCQX: TIGXF) announced this week that it is pursuing a “substantial damages claim against a major technology company” over anti-competitive behavior.

It said a successful outcome could result in a recovery that is material in the context of the company’s market capitalizastion, which currently stands at about GBP 100 million. Substantial is considered 20%, suggesting the company hopes to recover £20 million or more.

While the company did not name the technology company, it’s most certainly Google. The European Union has issued a decision and €2.95 billion fine against Google for abusing dominant positions in publisher ad server and programmatic ad buying markets. Team Internet has been a major ad buyer and publisher over the years through its search arbitrage and domain parking business.

In a trading update, the company stated:

The Group is pursuing a substantial damages claim against a major technology company, arising from anti-competitive conduct established by a final regulatory decision, by which the Group was disadvantaged over an extended period. Following recent court judgments on similar claims, the Group believes that a successful outcome could result in a recovery that is material in the context of the Company’s current market capitalisation. The outcome, timing and amount remain uncertain and, accordingly, no asset has been recognised. Further information will be given as appropriate.

Additionally, the company said it intends to come to a final decision on selling its domain name business in the first half of Q3. It says it has received offers in excess of £120 million, which is well above the company’s entire market capitalization, and more than cover the company’s outstanding debt.

The company’s domain business includes registrars such as Key-Systems and Moniker, and domain registry services for TLDs such as .xyz.

The company indicated their are multiple suitors.