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Case Study – Peerant, Inc. (enterprise software)

Case Study – Peerant, Inc. (enterprise software)

Armanino was engaged by the board and shareholders to liquidate the assets of this software services company and manage the entity’s orderly wind down process to conclusion. One of the investors in the UK had an interest in acquiring the technology for a vertical integration of their business. To be sure that all shareholders were being fairly treated, a complete, transparent and arm’s length auction was managed to sell the company’s assets, including the intellectual property.

Once the prospective buyers were identified, the Armanino team managed the process of contacting them and getting bidders for the auction. From beginning to end, the process of the auction took about 90 days, and all shareholders were pleased with the outcome.

At the conclusion of the auction, Armanino managed the final settlement of all outstanding liabilities and distributed the remaining balance to shareholders. All the necessary dissolution documents and final tax returns were filed in CA and with the IRS, which completed the engagement.