Revvity files complaint against Cloud Software Group, affirms FY24 guidance

Revvity “announced that it has filed a complaint against Cloud Software Group, CSG, in Massachusetts Superior Court and requested injunctive relief to enforce Revvity’s rights and CSG’s obligations as a strategic partner. CSG is refusing to honor its contractual obligations with Revvity as a strategic partner, including violating the terms of its agreements with Revvity for its TIBCO Spotfire(R) software. In addition, CSG is interfering in Revvity’s customer relationships by directly contacting Revvity’s customers, as well as engaging in willful misconduct by marketing the Spotfire products in Revvity’s exclusive markets. For over a decade, Revvity has been the exclusive provider of Spotfire to the research and clinical markets. The Company is reaffirming its 2024 full year guidance of total revenue of $2.79-$2.85 billion and adjusted earnings per share of $4.55-$4.75, as communicated on February 1, 2024.”