VISTEX: A FAST-TRACK EXPANSION THROUGH ACQUISITION
Vistex is the global leader in pricing, contract, incentive management, channel marketing, rights and royalty solutions and services. Vistex provides unprecedented visibility into the breadth and depth of go-to-market programs and enables businesses with insightful information that drives revenue, controls cost, reduces expense leakage and boosts margins. Deployed on-premise and in the cloud, Vistex serves businesses of all sizes worldwide across a spectrum of industries. With an unwavering commitment to its clients, the world’s best run organizations choose Vistex to manage master data, contracts, pricing, rebates, incentives, entertainment and brand licensing and channel programs, ensuring success from inception to insight.
How did a company that started in Hoffman Estates, Ill., become a global leader in pricing, contract and incentive management solutions?
Expanding legal needs for an expanding company
When Ice Miller partner David Hight first met with Vistex, it was apparent that the company needed legal counsel that could keep pace with its "bold vision and brilliant execution."
David put together an experienced team from Ice Miller to address the growing needs of Vistex, including complex litigation protecting their proprietary rights; recapitalization; employee arrangements; employee incentive plans; and business immigration for key employees.
Fast-track to expansion
The growing company needed to expand its product offerings to meet customer needs. Initially, Vistex leaders considered alternatives for selling equity in the company to raise cash to develop expanded offerings. With assistance David and the Ice Miller team, Vistex decided to pursue another path.
"They were at a stage of their development where they needed help in acquiring more capital – or in acquiring more companies," said Vistex VP and General Counsel, and former Ice Miller attorney, Mark Baggio. "To meet the fast-paced demands of the technology industry, a viable option for Vistex was to acquire companies that had developed technology that would enhance Vistex's platform."
An important part of Vistex Founder and CEO Sanjay Shah's vision for the company was to provide customers with access to the platform through a software-as-a-service model. As part of this strategy, Vistex acquired hawkeye Channel to further extend Vistex's robust Go-To-Market solution offering with cloud-based products, strategic consulting services, and global program management capabilities aimed at delivering global pricing, sales, marketing, payment and incentive solutions, both on-premise and in the cloud.
Vistex also needed to expand in rights management solutions. David and the Ice Miller team helped Vistex acquire the London-based Counterpoint Systems to add its deep domain expertise in rights, royalties and intellectual property licensing management to the Vistex platform.
The Ice Miller team worked closely with Vistex each step of the way in planning, negotiating and concluding these domestic and international acquisitions.
A strong foundation
Sanjay Shah, Founder and CEO of Vistex, also wanted a legal team that could help Vistex in its corporate citizenship goals. Ice Miller worked with Sanjay to create Vistex Endeavor, a foundation that supports employee giving and volunteerism as well as targeted grantmaking.
Expanding quickly in the fast-paced technology industry
"In our discussions with Sanjay, we talked globally about the goals of his business," said Hight. "Understanding his goals helped us to bring a fresh perspective to the expansion discussion, and to look at approaches beyond traditional capital formation. What Sanjay has done is not unlike what you see the Google's of the world doing, which is to meet the expanding needs of its customers by quickly acquiring new technology."
Ice Miller attorneys work closely with their technology clients to build, grow and protect every client's interests. We understand that technology moves fast, and that you need legal resources that can keep pace. To learn more about how Ice Miller can help your business, contact us.