Vendavo Announces Settlement of Intellectual Property Lawsuit
Vendavo, the market leader in commercial excellence solutions, announced today it has entered into a comprehensive settlement agreement with Price f(x) corporation to resolve all lawsuits regarding the US Patent Nos. 8,396,814; 7,640,198; 7,308,421; 8,412,598; 7,912,792.
The settlement agreement resolves and ends all lawsuits and invalidation proceedings initiated by Vendavo Inc. against Price f(x) and resolves all counterclaims by Price f(x). These lawsuits concerned the patent infringement of its intellectual property, the misappropriation of Vendavo trade secrets, and unfair competition against Vendavo by Price f(x), as first announced on December 6, 2017.
Vendavo believes that settling the case at this time is in the best interests of all parties, and that as a result of this settlement, Vendavo customers, employees and shareholders are firmly protected.
“As the market leader in pricing and sales intelligence solutions, it is vital that we ensure a fair and competitive playing field. We believe this settlement further underscores the strength and validity of our intellectual property portfolio,” said Bruno Slosse, President and Chief Executive Officer, Vendavo.
In 2019, Vendavo reported a 75 percent year over year (YOY) SaaS revenue growth contributing to the company’s 20 percent positive 2019 EBITDA growth projection.
Vendavo empowers Global 2000 companies with world-class, innovative SaaS based profit and sales intelligence solutions, that yield insights necessary to drive bottom line growth. The company’s solutions are used by hundreds of large enterprise customers that span the globe and are the result of many years of perfecting software and solutions for a wide array of industries.
About Vendavo
Vendavo powers the shift to digital business for the world’s most demanding B2B companies, unlocking value, growing margin and accelerating revenue. With the Vendavo Commercial Excellence platform, companies develop dynamic customer insights and optimal pricing strategies that maximize margin, boost sales effectiveness and improve customer experience. With an annual margin improvement totaling more than $2.5 billion across companies in chemicals, distribution, high-tech and manufacturing, Vendavo delivers cutting-edge analytics and deep industry expertise that help companies stay one step ahead. Vendavo is headquartered in Denver, CO and has offices around the globe. Learn more at Vendavo.com.
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Kimberly Communications
319.389.6953
kb@kimberlycommunications.com
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