Burns & Levinson announces that it represented Crossix Solutions in the company’s $430 million sale to Veeva Systems. In addition, certain Crossix employees received long term equity retention grants valued at approximately $120 million in the aggregate. The deal, which was announced on September 26, 2019, closed on November 1, 2019. Burns & Levinson has represented Crossix, the leader in privacy-safe patient data and analytics, since the company was founded in 2005 by CEO Asaf Evenhaim and CFO Andrew Willis. Crossix will continue to operate as an independent business unit at Veeva led by Crossix CEO Asaf Evenhaim.
The Burns deal team was led by partners Gil Breiman and Mark Manning and included a large team of firm experts – in tax, employment/benefits, intellectual property, regulatory compliance, and other areas – to support the corporate and M&A team.
“We have been Crossix’s outside general corporate counsel since the beginning, handling everything from the company’s formation and financing to commercial agreements, IP and employee matters. It has been an honor to represent them throughout their impressive journey from startup to company exit,” said Breiman. “We brought all of our resources together to help Crossix achieve this transformative business event, and we look forward to their continued success as they embark on this exciting next chapter.”
“Our organization has worked tirelessly to build our innovative technology and data analytics platform, which is trusted by more than 200 pharmaceutical brands, and to grow our company into the industry leader,” said Evenhaim. “Burns & Levinson has been with us every step of the way, and their personal and caring client service, business advice and technical expertise has played a significant role in helping us get to where we are today.”