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.