Geodesic Systems acquired by Veritas

Stratagem fights to win two-stage deal; strategic capital leading to an acquisition

We represented Geodesic Systems in a two-stage partnering deal: a strategic financing from Precise Software and subsequent sale to Veritas Software.

Geodesic developed and sold an innovative and highly technical runtime application service level management solution. Precise Systems (subsequently bought by Veritas) was interested in Geodesic’s unique and patented solution because it could proactively repair applications, in contrast to traditional reactive monitoring.

In the first of a two-stage partnering deal, we secured $3M in strategic capital from Precise along with an OEM license agreement.

Because Geodesic sold a highly technical solution, the way we positioned the opportunity for partners was both critically important and particularly challenging. Nevertheless, we won audiences for Geodesic with the “who’s who” of leading development tool and service management companies. Demonstrating the value of our “never say die” philosophy, Precise rejected our overtures on two separate occasions before finally embracing the value of this partnership.

Veritas completed the purchase of Geodesic after its acquisition of Precise.