Challenge
A Fortune 100 tech company finalized a large product acquisition from an international competitor. They need to stand up an entity to manage the new business and transition the product sets under their corporate umbrella. But the acquiree’s contracts are all heavily negotiated and not in line with the new corporate policies.
Approach
In search of a partner to transition the product lines without slowing down revenue, the tech engages an Axiom team of 9 highly experienced SaaS lawyers across Asia, Europe, and North America. The lawyers work with sales to sell and execute new sales contracts and review “toxic terms” in existing client agreements. Over a 6-month time span, Axiom lawyers notify and gain consent from 2000 customers about the change in ownership. They also renegotiate a number of clauses within each contract to align with the new corporate policies.
Impact
- Avoided interrupting sales activity during the transition by supporting 200 active sellers on new sales contracts and renewals
- Identified and renegotiated problematic terms in inherited agreements, ensuring alignment with the acquirer’s preferred contractual framework
- Completed a complex contractual transition across global companies– without drawing from internal in-house resources– in just six months.
*Cost savings estimates are based on actual Axiom rates compared to equivalent law firm rate averages as listed in Wolters Kluwer’s Real Rate report.
