On August 13, 2010, IBM and Unica Corporation announced they have entered into a definitive agreement for IBM to acquire Unica in a cash transaction at a price of $21 per share, or at a net price of approximately $480 million, after adjusting for cash. Cravath represented IBM in connection with this transaction. Unica, based in Waltham, Massachusetts, is a publicly held company. The acquisition, which is subject to Unica shareholder approval, applicable regulatory clearances and other customary closing conditions, is expected to close in the fourth quarter of 2010.
The Cravath team included partner George F. Schoen and associates Benjamin P. Schaye and Kenneth S. Gerold on corporate matters; partner Jennifer S. Conway and associates Daniel A. Birnhak and Jarrett R. Hoffman on executive compensation and benefits matters; partner Andrew W. Needham and associates Joanne J. Lee and Albert Chang on tax matters; practice area attorney Matthew Morreale on environmental matters; and practice area attorney Robin C. Landis on antitrust matters.