MUNICH & CHICAGO--(BUSINESS WIRE)--Pricefx, the global leader in native cloud pricing software, has settled all outstanding worldwide litigation with Vendavo, including claims of intellectual property infringement that each company made against the other.
“We are pleased to settle all disputes and direct all of our attention to serving our customers and continuing to provide the best SaaS-based pricing software on the market. We are confident that customers and business partners of both Pricefx and Vendavo will be pleased this dispute has come to an end and both companies can focus on their individual strengths and fair competition in the marketplace,” said Marcin Cichon, CEO and co-founder of Pricefx.
The litigation between Pricefx and Vendavo began when Vendavo filed a complaint in California federal court in December 2017. From there, the case expanded and included several counterclaims by Pricefx against Vendavo for trade secret misappropriation, as well as an ancillary suit in Illinois federal court, and challenges by Pricefx to Vendavo’s patents in the U.S. Patent Office.
Aaron Werner, General Counsel of Pricefx, went on to state, “The parties’ settlement recognizes that Pricefx is the undisputed owner of all of its software and intellectual property and Pricefx’s products and services do not infringe on any of Vendavo’s intellectual property rights.”
Whereas other legacy pricing software companies provide primarily on-premises solutions, Pricefx will continue its commitment to expanding its world-leading cloud-based pricing platform that offers customers both flexibility and comprehensive functionality.
“We are pleased Pricefx is able to permanently put this dispute behind it and focus all of its efforts on continuing to be the market innovator in pricing software,” said Axel Krieger, Board Member of Pricefx and Managing Director/Founding Partner of Digital+ Partners.
Ron Kermisch, Board Member of Pricefx and Bain & Company’s global pricing leader, said, “We continue to believe Pricefx’s best days are ahead and we look forward to partnering with Pricefx’s agile and flexible platform.”
This settlement comes on the heels of several recent awards for Pricefx, including being the first C/4 HANA independent solution vendor (ISV) to reach Gold-level status for SAP® PartnerEdge® Build. Pricefx also recently won the prestigious 2019 SAMMY award from the Business Intelligence Group, as the only pricing software vendor driving major change in sales and marketing organizations worldwide.
Established in 2011 in Munich, Pricefx provides a modular SaaS solution for Price Optimization, Management (PO&M) and Configure-Price-Quote (CPQ) for enterprises of any size, based on the latest native cloud architecture. The company currently serves over 110 global, blue-chip B2B and B2C customers across a variety of industries. Pricefx’s best-in-class service offering helps its customers realize an unparallel time-to-value on their pricing projects.
Pricefx has developed a strong partner ecosystem with leading global technology, consulting and integration providers - including Bain & Company and SAP®. Pricefx is a proud member of the Bain Alliance Ecosystem - a network of best-of-breed partnerships with complementary tool, technology and service providers that accelerate delivery of breakthrough client results.
For more information, please visit www.pricefx.com.