Magnet 360, a “platinum” partner of Salesforce.com, is a technology-based marketing and consulting company founded in Minneapolis in 2008. In January 2016, Magnet 360 was sold to Mindtree Limited, a world-leading IT consulting firm based in Bangalore, India.
Gray Plant Mooty has advised Magnet 360 since 2008. This counsel continued as the company put roots down in Chicago, Los Angeles, and New York and expanded its client base to include Fortune 1000 companies using Salesforce.com’s customer relationship management (CRM) software and other SaaS based products.
The GPM Magnet 360 team, led by General Business and Tax Group Co-Chair Chris Carlisle, assisted the company on a variety of strategic and legal matters, including navigating customer agreements, employment and employee benefit issues, and the acquisition of adjacent firms. GPM’s representation of Magnet 360 culminated in the $50 million acquisition of the 160-employee firm by Mindtree.
“Gray Plant Mooty’s strategic advice and years of dedicated legal counsel helped Magnet 360 achieve its business objectives and reach a positive outcome for all our stakeholders,” said Scott Litman, co-founder of Magnet 360.
Magnet 360 is one of several IT consultancy clients GPM has advised in its sale to a global publicly held consulting firm.