secwatch.observer — SEC 8-K summary
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Issuer:     Veritone, Inc. (VERI)
CIK:        0001615165
Form:       8-K
Filed at:   2023-05-31T23:59:59+00:00
Accession:  0001193125-23-157288
Event type: m_and_a
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Veritone acquires Broadbean for $52M cash; Amazon revenue cut of $4-5M, withdraws 2023 guidance
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- Acquisition of Broadbean for $52M cash; expected close late Q2 or early Q3 2023.
- Acquisition expected to add over $35M annualized SaaS revenue and 3,000+ customers immediately accretive.
- Amazon notified reduction in HR product consumption; Q2 2023 revenue expected to decline by $4-5M.
- Company withdraws Q2 and full-year 2023 guidance due to uncertainty from Amazon impact.
- Terry Baker steps down as PandoLogic CEO; Matthew O'Connor named CRO of Veritone HR Solutions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1615165/000119312523157288/0001193125-23-157288-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1615165/000119312523157288/d506895d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-157288

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