On September 15, 2010, IBM announced that it has entered into an agreement to acquire OpenPages, Inc., a privately held company based in Waltham, Massachusetts. Cravath is representing IBM in connection with this transaction.
OpenPages will be integrated into the IBM Software Group. The deal is expected to close in the fourth quarter of 2010, subject to the satisfaction of customary closing conditions. Financial details were not disclosed.
The Cravath team included partner Peter S. Wilson and associates Rene Paula-Molina and David L. Selinger on corporate matters; partner Andrew W. Needham and associates J. Leonard Teti II and Joanne J. Lee on tax matters; and partner Jennifer S. Conway and associates Jared R. Whalen and Albert Chang on executive compensation and benefits matters.