On July 29, 2010, IBM announced it has entered into an agreement to acquire Storwize, Inc., a privately held company based in Marlborough, Massachusetts. Cravath is representing IBM in connection with this transaction.
Storwize will be integrated into the IBM Systems and Technology Group. The deal is expected to close in the third quarter of 2010, subject to the satisfaction of customary closing conditions. Financial details were not disclosed.
The Cravath team includes partner Peter S. Wilson and associates Rene Paula-Molina and David L. Selinger on corporate matters; partner Andrew W. Needham and associates Joanne J. Lee and Kathleen H. Withers on tax matters; and partner Jennifer S. Conway and associates Daniel A. Birnhak, Mark E. Dundon and Louis K. Rosner on executive compensation and benefits matters.