Santa Monica – October 22, 2024 – Cooley advised Veritone, a company building human-centered enterprise artificial intelligence (AI) solutions, on the sale of its media agency, Veritone One, to Insignia Capital Group. The total consideration from the divestiture is up to $104 million, subject to customary purchase price adjustments, and includes up to $18 million in cash subject to an earnout based on Veritone One’s achievement of certain net revenue targets during the 2025 calendar year.
Lawyers Tom Hopkins, Bram Couvreur, Natalie Vernon, Tom Connors, Liza Hadley, Galen Pham, Stephanie Gentile, Barbara Mirza, Alexander Ellebracht and Kristine Kevorkova led the Cooley team advising Veritone.
Cooley previously advised Veritone on its acquisition of Broadbean in June 2023.
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