IBM’s Joint Venture with Maersk


IBM and A.P. Moeller – Maersk (“Maersk”) announced their intent to establish a joint venture to provide more efficient and secure methods for conducting global trade using blockchain technology.

The aim of the new company will be to offer a jointly developed global trade digitization platform built on open standards and designed for use by the entire global shipping ecosystem. It will address the need to provide more transparency and simplicity in the movement of goods across borders and trading zones. Cravath is representing IBM in connection with the transaction.

The Cravath team is led by partners George F. Schoen (Picture) and Keith Hallam and includes associates Brendan M. Cottington, Robert C. Warshaw and Caleb B. Rosser on M&A matters; partner J. Leonard Teti II and associate Cecily Xi on tax matters; and partner Jennifer S. Conway and associates Matthew Cantor and Christopher C. Gonnella on executive compensation and benefits matters.

Davis Polk is advising A.P. Møller – Mærsk with a team including Partner Thomas J. Reid, partner Harold Birnbaum and associate Caitlin Cunningham. Partner Frank J. Azzopardi and associate Daniel F. Forester are providing intellectual property and technology advice. Partner Rachel D. Kleinberg is providing tax advice. Partner Veronica M. Wissel and associate Joshua S. Sills are providing executive compensation advice.

Involved fees earner: George Schoen – Cravath Swaine & Moore; Keith Hallam – Cravath Swaine & Moore; Brendan Cottington – Cravath Swaine & Moore; Robert Warshaw – Cravath Swaine & Moore; J. Leonard Teti II – Cravath Swaine & Moore; Cecily Xi – Cravath Swaine & Moore; Jennifer Conway – Cravath Swaine & Moore; Matthew Cantor – Cravath Swaine & Moore; Christopher Gonnella – Cravath Swaine & Moore; Thomas Reid – Davis Polk & Wardwell; Harold Birnbaum – Davis Polk & Wardwell; Caitlin Cunningham – Davis Polk & Wardwell; Frank Azzopardi – Davis Polk & Wardwell; Daniel Forester – Davis Polk & Wardwell; Rachel Kleinberg – Davis Polk & Wardwell; Veronica Wissel – Davis Polk & Wardwell; Joshua Sills – Davis Polk & Wardwell;

Law Firms: Cravath Swaine & Moore; Davis Polk & Wardwell;

Clients: Ap Moller Maersk; IBM;

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Author: Ambrogio Visconti