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10.25.24
Wilson Sonsini Advises Socure on $136 Million Acquisition of Effectiv
On October 24, 2024, Socure, the leading provider of artificial intelligence for digital identity verification, fraud prevention, and sanction screening, announced that it has signed an agreement to acquire Effectiv, a real-time risk decisioning company, for $136 million. Wilson Sonsini Goodrich & Rosati advised Socure on the transaction.
The strategic acquisition pairs Socure’s best-in-class digital identity verification and fraud solutions with a developer-friendly AI orchestration and decisions platform. With this acquisition, Socure—which serves more than 2,700 customers and has verified more than 2.26 billion identities over the past 12 months—further solidifies its leadership position in the identity verification and fraud prevention market, and is propelled into the $200 billion enterprise fraud industry, which additionally encompasses payments fraud, credit underwriting, and AML transaction monitoring. The transaction is expected to close in November.
The Wilson Sonsini team that advised Socure on the transaction includes:
The strategic acquisition pairs Socure’s best-in-class digital identity verification and fraud solutions with a developer-friendly AI orchestration and decisions platform. With this acquisition, Socure—which serves more than 2,700 customers and has verified more than 2.26 billion identities over the past 12 months—further solidifies its leadership position in the identity verification and fraud prevention market, and is propelled into the $200 billion enterprise fraud industry, which additionally encompasses payments fraud, credit underwriting, and AML transaction monitoring. The transaction is expected to close in November.
The Wilson Sonsini team that advised Socure on the transaction includes:
Client Highlights
10.01.24
Wilson Sonsini Advises PayRange on Investment by Ridgeview Partners
On September 30, 2024, Ridgeview Partners, in partnership with The Baupost Group, announced it has agreed to make a significant strategic growth investment in PayRange, a leading provider of IOT software and payment solutions for unattended retail. Wilson Sonsini Goodrich & Rosati advised PayRange on the transaction.
Client Highlights
6.18.24
Wilson Sonsini Advises TravelPerk on Acquisition of AmTrav
On June 18, 2024, TravelPerk, the hyper-growth global business travel management platform, announced its acquisition of the industry-leading United States company AmTrav, doubling down on its expansion in the U.S. Wilson Sonsini Goodrich and Rosati advised TravelPerk on the transaction.
Both platforms will capitalize on proprietary tech, AI capabilities, and expanded resources to further expand in the U.S. The acquisition will see TravelPerk double its revenue in the U.S., following 65 percent year-over-year growth in the market in 2023. TravelPerk’s U.S.-based headcount and footprint expands to now include offices in Boston, Chicago, Los Angeles, and Miami. AmTrav will operate under the same brand, and the entire team will continue with the business going forward.
Both platforms will capitalize on proprietary tech, AI capabilities, and expanded resources to further expand in the U.S. The acquisition will see TravelPerk double its revenue in the U.S., following 65 percent year-over-year growth in the market in 2023. TravelPerk’s U.S.-based headcount and footprint expands to now include offices in Boston, Chicago, Los Angeles, and Miami. AmTrav will operate under the same brand, and the entire team will continue with the business going forward.
Client Highlights
6.10.24
Wilson Sonsini Advises Yext on $125 Million Acquisition of Hearsay Systems
On June 10, 2024, Yext, Inc., the leading digital presence platform for multi-location brands, announced that it has entered into a definitive agreement to acquire Hearsay Systems, a global leader in digital client engagement for financial services, for $125 million and up to an additional $95 million if certain performance targets are achieved. Wilson Sonsini Goodrich & Rosati advised Yext on the transaction.
Client Highlights
5.23.24
Wilson Sonsini Advises SkyHive on Acquisition by Cornerstone
On May 22, 2024, Cornerstone OnDemand Inc., a leader in Workforce Agility solutions, announced the acquisition of workforce skills intelligence capabilities and a team of highly specialized domain experts from SkyHive Technologies Holdings Inc. SkyHive's AI-powered skills intelligence platform and services help customers build skills-based organizations, providing visibility into the capabilities of employees and enabling organizations in their transformation efforts. Wilson Sonsini Goodrich & Rosati represented SkyHive Technologies Holdings in the transaction.
Newsletters
3.18.24
The Scramble: 2023 Gaming Legal Year in Review
Wilson Sonsini's The Scramble: 2023 Gaming Legal Year in Review provides an overview of the gaming industry and legal highlights from 2023. The report underscores the significant influence of artificial intelligence (AI) in the gaming realm in 2023 and anticipates further substantial impacts. The Scramble also features a collection of EGG’s industry-leading publications from the last year.
Alerts
2.21.24
Court Refuses Video Game Company's Arbitration Bid in Minor-Involved Case
In February 2022, J.R. II, a minor, brought a case against Electronic Arts Inc. (EA), alleging that it engaged in unlawful and unfair business practices by deceptively inducing players of its game, Apex Legends, to purchase digital game-specific currency.
Client Highlights
2.20.24
Wilson Sonsini Advises VIZIO on $2.3 Billion Acquisition by Walmart
On February 20, 2024, Walmart and VIZIO announced that they have entered into an agreement for Walmart to acquire VIZIO for $11.50 per share in cash, for an equity value of approximately $2.3 billion. Wilson Sonsini Goodrich & Rosati advised VIZIO on the transaction.
Client Highlights
12.19.23
Wilson Sonsini Advises Alteryx in $4.4 Billion Take-Private Deal with Clearlake and Insight Partners
On December 18, 2023, Alteryx (NYSE: AYX), a software company based in Irvine, California, announced that it has entered into a definitive agreement to be acquired by private equity firms Clearlake Capital and Insight Partners for $4.4 billion, including debt. Wilson Sonsini Goodrich & Rosati acted as the legal advisor to Alteryx.
Client Highlights
12.18.23
Wilson Sonsini Advises OhmConnect on Merger Agreement with Google Nest Renew
On December 14, 2023, Google Nest Renew, a load shifting service for Google Nest thermostats that help customers shift their energy usage to times when the electrical grid is cleaner or energy is less expensive, announced that it is spinning out from Google and combining with OhmConnect, a start-up that Sidewalk Infrastructure Partners (SIP) invests in that helps manage load shifting services for Nest and other smart thermostat brands. The new company will be called "Renew Home." Wilson Sonsini Goodrich & Rosati is advising OhmConnect on the transaction.
SIP will combine their platform company, OhmConnect, with assets from Google Nest’s Renew service business to form Renew Home, which will help customers and energy providers unlock energy savings and rewards in a way that supports a clean energy grid. Renew Home will combine OhmConnect’s innovative home energy management platform, which has helped California avoid dangerous blackouts, with Google Nest’s leadership in energy products and services that help customers prioritize cheaper and cleaner energy. Nest Renew and OhmConnect customers will have improved experiences and offerings, as Renew Home works with partners across the energy industry to offer savings and rewards while accelerating the clean energy transition. SIP is also investing $100 million in fresh capital to drive Renew Home’s future growth as a SIP platform company. The closing of the transaction is subject to regulatory approvals and other customary closing conditions.
SIP will combine their platform company, OhmConnect, with assets from Google Nest’s Renew service business to form Renew Home, which will help customers and energy providers unlock energy savings and rewards in a way that supports a clean energy grid. Renew Home will combine OhmConnect’s innovative home energy management platform, which has helped California avoid dangerous blackouts, with Google Nest’s leadership in energy products and services that help customers prioritize cheaper and cleaner energy. Nest Renew and OhmConnect customers will have improved experiences and offerings, as Renew Home works with partners across the energy industry to offer savings and rewards while accelerating the clean energy transition. SIP is also investing $100 million in fresh capital to drive Renew Home’s future growth as a SIP platform company. The closing of the transaction is subject to regulatory approvals and other customary closing conditions.
Client Highlights
12.01.23
Wilson Sonsini Advises Rover on $2.3 Billion Acquisition by Blackstone
On November 29, 2023, Blackstone Inc. announced the acquisition of Rover Group Inc., the world’s largest online marketplace for pet care, in an all-cash deal worth $2.3 billion. Wilson Sonsini Goodrich & Rosati advised Rover on the transaction.
Alerts
10.16.23
Game On: Rival Games Co-Founders Battle It Out in Court for Alleged Misuse of Funds and Trade Secrets
A trade secret dispute between the co-founders of Rival Games, an international online gaming platform, highlights the critical role that trade secrets and trademarks play in the success of these platforms. As alluded in the complaint, the survival of gaming platforms like Rival Games can turn on not just the value of their trade secret technology, but also their brand recognition and consumer loyalty in an increasingly competitive—and crowded—industry.