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TECHNOLOGY

The technology industry is defined by innovation, which translates to an ever-changing landscape. Such innovation comes not only from established companies, but from well-funded startups who are working feverishly to bring disruptive new technologies to market. BVA professionals fully recognize that Moore’s Law is still in effect and understand its valuation and investment implications for the industry, which not only includes technology companies themselves, but also their customers and the venture capital and private equity firms that back them.

Allegations: Advice Interactive Group alleged, among other things, Web.com Group, Inc. breached a service agreement, infringed on certain copyrights, misappropriated trade secrets under federal and Florida law, and violated Florida’s Deceptive and Unfair Practices Act. Web.com, through its counterclaim, alleged AIG breached its service agreement.

Role: On behalf of defendant, provided expert analysis supporting Web.com’s affirmative defenses and counterclaim. Additionally, rebutted AIG's reasonable royalty analysis, calculation of unjust enrichment, damages from alleged breach of contract, and profits related to the alleged copyrights and trade secrets.

Results: The matter settled following expert deposition.

Jurisdiction: United States District Court, Middle District of Florida

Allegations: The SEC alleged that the CFO of Uni-Pixel, a publicly traded touchscreen cover manufacturer, failed to adequately disclose certain agreements as required under GAAP milestone accounting, and did so knowingly, with severe recklessness, or at least negligently.  The SEC sought over $1 million in disgorgement and penalties from the CFO.

Role: On behalf of defendant CFO, analyzed evidence to determine whether the CFO had exercised the degree of care that a reasonably prudent accountant would have exercised in the circumstances. Determined that the CFO had exercised an appropriate degree of care.  Issued an expert report and testified at deposition.

Results: The defendant CFO settled with the SEC, paying a $50,000 penalty.

Jurisdiction: United States District Court, Southern District of Texas

BVA has performed stock and option valuations for ASC 718 and IRC 409(A) purposes for RealPage, Inc.  Additionally, BVA has provided other financial reporting valuations, including purchase price allocations and quarterly contingent consideration appraisals.  RealPage, Inc. provides on-demand software solutions for the rental housing industry in North America and offers property management and accounting solutions along with other software-enabled value-added services. RealPage, Inc. is headquartered in Carrollton, Texas and is publicly-traded on the NASDAQ stock exchange. 

Mavenir is a leader in cloud-native networking solutions for service providers, offering products including 5G applications and core network solutions.  BVA Group has performed stock and option valuations for ASC 718 and IRC 409(A) purposes.  Additionally, BVA Group has provided other financial reporting valuations, including purchase price allocations and goodwill impairment testing.