Clifford Chance Advises on Major Fintech Acquisition

Enhancing Data Confidentiality and Intellectual Property

World-renowned law firm Clifford Chance has successfully guided the California-based fintech company Guideline through its acquisition by prominent payroll and HR management software company, Gusto. This strategic partnership is set to transform service offerings in the fintech space.

Expert Legal Guidance for a Seamless Transition

The Clifford Chance team provided crucial advice covering legal aspects such as data confidentiality, intellectual property rights, cybersecurity, and compliance with technology regulations. The dedicated team was led by Partner and Co-President of Global Technology, Devika Kornbacher, along with key attorneys including Megan Gordon (Head of U.S. Data Privacy and Cybersecurity) and Violetta Kokolus (Head of Intellectual Property).

Creating a Full-Circle Moment for Both Companies

Kevin Busque, CEO and Co-Founder of Guideline, expressed excitement over this acquisition as it represents a “full-circle moment” for the two companies. He emphasized that their mutual commitment to supporting small businesses has always aligned their missions, fostering a strong partnership.

A Broader Reach in Retirement Plan Management

Guideline specializes in providing an efficient online platform for managing employer-sponsored retirement plans (401k). With over $20 billion in assets and 65,000 customers, the company’s innovative approach has already made waves in the fintech industry, facilitating over a million savings accounts for employees.

Future-Proofing Small Businesses

In light of the acquisition, Busque highlighted the benefits it brings to small businesses, stating it will be easier than ever for them to comply with regulations, provide quality employee benefits, and ultimately pave a stronger path to financial security for their teams.

Reflecting on a Decade of Transformation

As Busque reflected on the last decade, he expressed immense pride in Guideline’s journey. He believes the acquisition by Gusto will only accelerate their mission to improve the 401(k) industry, further innovating their service offerings.

Confidentiality of Terms

While the specific terms of the acquisition have not been disclosed, both companies are poised to leverage their combined expertise to enhance services and expand their reach in the fintech market.