Revvity, Inc. (NYSE: RVTY) has taken legal action against Cloud Software Group (CSG), filing a complaint in Massachusetts Superior Court and seeking injunctive relief to assert its rights and ensure CSG fulfills its obligations as a strategic partner.

The conflict arises over CSG's refusal to honor its commitments concerning the TIBCO Spotfire® software, including direct overtures to Revvity's clientele and inappropriate marketing activities in exclusive territories designated for Revvity. With over ten years as the sole distributor of Spotfire in research and clinical sectors, Revvity is determined to maintain customer service excellence and uphold its contractual rights.

Kevin Willoe, SVP and general manager of Revvity Signals Software, expressed confidence in the company's stance and its commitment to supporting customers throughout the legal proceedings. Despite the ongoing dispute, Revvity has reiterated its financial outlook for 2024, projecting revenues between $2.79 and $2.85 billion and adjusted EPS in the range of $4.55 to $4.75.