ZoomInfo and Bombora Settle Lawsuit

Rhea-AI Summary

ZoomInfo and Bombora have settled a lawsuit regarding a terminated revenue sharing agreement and privacy-related claims in New York's Supreme Court. Although specific settlement terms remain confidential, this resolution is viewed positively for both companies and the broader industry, emphasizing ethical data stewardship. ZoomInfo's commitment to privacy leadership was highlighted, alongside the importance of Bombora’s intent data for enhancing B2B sales and marketing strategies. The two firms are now discussing Bombora's potential participation in ZoomInfo’s RingLead DataExchange.

Positive

• Settlement of a long-standing lawsuit improves relations between ZoomInfo and Bombora.
• The agreement emphasizes ZoomInfo's leadership in privacy compliance, enhancing its market image.
• Potential future collaboration on Bombora's participation in ZoomInfo's RingLead DataExchange could boost business opportunities.

Negative

• None.

Confidential Agreement Paves the Way for Companies to Resume Working Together

VANCOUVER, Wash. & NEW YORK--(BUSINESS WIRE)-- ZoomInfo Technologies LLC (“ZoomInfo”) and Bombora, Inc. (“Bombora”) today announced that they entered a confidential agreement settling a lawsuit pending in the Supreme Court of the State of New York, County of New York, under the caption ZoomInfo Technologies LLC v. Bombora, Inc., Index. No. 652431/2020. The case concerned a years-long revenue sharing agreement between the parties, which terminated in early 2020, and various privacy-related claims. Terms of the settlement were not disclosed.

“ZoomInfo has achieved its leadership status by anticipating market needs and innovating to meet them, including a deep commitment to privacy compliance,” said Erik Matlick, Founder and CEO of Bombora. “Resolving this suit is a step forward not only for both of our companies, but also for our industry, one in which ethical stewardship of data, of which ZoomInfo is setting an example, is increasingly critical.”

“Our commitment to and investment in privacy leadership is second to none,” said Henry Schuck, Founder and CEO of ZoomInfo. “Bombora’s intent data plays an important role in improving B2B sales and marketing, and we look forward to working together again.”

While the agreement does not encompass resumption of the business partnership, the companies are in active discussions regarding Bombora’s participation in ZoomInfo’s RingLead DataExchange.

About ZoomInfo
ZoomInfo (NASDAQ: ZI) is a leader in modern go-to-market software, data, and intelligence for more than 25,000 companies worldwide. ZoomInfo’s revenue operating system, RevOS, empowers business-to-business sales, marketing, operations, and recruiting professionals to hit their number by pairing best-in-class technology with unrivaled data coverage, accuracy, and depth of company and contact information. With integrations embedded into workflows and technology stacks, including the leading CRM, Sales Engagement, Marketing Automation, and Talent Management applications, ZoomInfo drives more predictable, accelerated, and sustainable growth for its customers. ZoomInfo emphasizes GDPR and CCPA compliance. In addition to creating the industry’s first proactive notice program, the company is a registered data broker with the states of California and Vermont. Read about ZoomInfo’s commitment to compliance, privacy, and security. For more information about ZoomInfo’s leading go-to-market software, data, and intelligence, and how they help sales, marketing, operations, and recruiting professionals, please visit www.zoominfo.com.

About Bombora
Bombora tells businesses which companies are researching their products and services. With this understanding, sales and marketing teams can be more relevant and consistent and improve performance across all activities. This intent-driven approach revolutionizes the way businesses market and sell to other businesses through transparent data built on an ecosystem of quality, collaboration and innovation. With direct integrations with dozens of leading data and media-buying platforms, Bombora is building a world in which business buyers value sales and marketing for its relevance, timeliness and accuracy. To learn more, visit bombora.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220616005808/en/

Media:

Steve Vittorioso

Director, Communications

ZoomInfo

pr@zoominfo.com



Rich Cherecwich

WIT Strategy for Bombora

rcherecwich@witstrategy.com



Investor:

Jeremiah Sisitsky

VP, Investor Relations

ZoomInfo

617-826-2068

ir@zoominfo.com

Source: ZoomInfo

FAQ

What lawsuit did ZoomInfo settle with Bombora?

ZoomInfo settled a lawsuit concerning a revenue sharing agreement and various privacy-related claims that had been ongoing in New York.

What are the implications of the ZoomInfo and Bombora settlement?

The settlement is a step towards revitalizing the relationship between the two companies and emphasizes the importance of ethical data stewardship.

How might Bombora's participation in ZoomInfo's RingLead DataExchange affect ZI stock?

If Bombora participates in the RingLead DataExchange, it could create further business opportunities for ZoomInfo, positively impacting investor sentiment.

What is ZoomInfo's focus on privacy compliance?

ZoomInfo has highlighted its commitment to privacy leadership as a key component of its business strategy, enhancing its reputation in the industry.