Centerbridge Partners’ Acquisition Of A Marketing Platform And Commerce Software Offerings From IBM


Cravath is representing IBM in connection with the transaction.

IBM and Centerbridge Partners, L.P. (“Centerbridge”) definitive agreement under which funds advised by affiliates of Centerbridge will acquire IBM’s marketing platform and commerce software offerings. The transaction is expected to close in mid-2019, subject to completion of applicable regulatory reviews and customary closing conditions. After closing, Centerbridge intends to form a standalone company that will deliver a modern, comprehensive portfolio of solutions to meet the CMO’s biggest challenges across marketing and advertising.

International Business Machines Corporation operates as an integrated technology and services company worldwide. Its Cognitive Solutions segment offers a portfolio of enterprise artificial intelligence platforms, such as analytics and data management platforms, cloud data services, talent management, and industry solutions primarily under the Watson Platform, Watson Health, and Watson Internet of Things names.

The Cravath team is led by partners George F. Schoen (Picture) and Keith Hallam and includes associates Joshua Ayal, Daniel J. Cerqueira, Matthew L. Ploszek, Justin B. Stein, Eliza Marshall Foley and Saagar Kaul on M&A matters; partner Jennifer S. Conway and associates Sally Ye and Anna Mikaelyan on executive compensation and benefits matters; partner Andrew W. Needham, senior attorney Andrew Carlon, associate Peter W. Rogers and foreign associate attorney Nicolaas Versteeg on tax matters; and senior attorney Joyce Law on real estate matters. Maria Ricaurte also worked on M&A matters.

Involved fees earner: Joshua Ayal – Cravath Swaine & Moore; Andrew Carlon – Cravath Swaine & Moore; Daniel Cerqueira – Cravath Swaine & Moore; Jennifer Conway – Cravath Swaine & Moore; Keith Hallam – Cravath Swaine & Moore; Saagar Kaul – Cravath Swaine & Moore; Joyce Law – Cravath Swaine & Moore; Eliza Marshall Foley – Cravath Swaine & Moore; Anna Mikaelyan – Cravath Swaine & Moore; Andrew Needham – Cravath Swaine & Moore; Matthew Ploszek – Cravath Swaine & Moore; Maria Ricaurte – Cravath Swaine & Moore; Peter Rogers – Cravath Swaine & Moore; George Schoen – Cravath Swaine & Moore; Justin Stein – Cravath Swaine & Moore; Nicolaas Versteeg – Cravath Swaine & Moore; Sally Ye – Cravath Swaine & Moore;

Law Firms: Cravath Swaine & Moore;

Clients: IBM;

Author: Ambrogio Visconti