On September 27, 2010, IBM announced it has entered into a definitive agreement to acquire BLADE Network Technologies (BLADE), a privately held company based in Santa Clara, California. Cravath represented IBM in connection with this transaction. BLADE specializes in software and devices that route data and transactions to and from servers. The acquisition is anticipated to close in the fourth quarter of 2010, subject to the satisfaction of customary closing conditions and applicable regulatory reviews. Financial terms were not disclosed.
The Cravath team included partner George F. Schoen and associates Sophia D. Tawil, Mina M. Farbood and Noah F. Roth on corporate matters; partner Andrew W. Needham and associates Jonathan J. Katz and Steven J. Lorch on tax matters; partner Jennifer S. Conway and associates Nicole F. Foster and Kevin E. Manz on executive compensation and benefits matters; practice area attorney Matthew Morreale on environmental matters; and partner Paul H. Zumbro, senior attorney Robert H. Trust and associate Jane K. Manning on bankruptcy matters.