On January 31, 2012, IBM announced a definitive agreement to acquire Worklight, a privately held Israel-based provider of mobile software for smartphones and tablets. Cravath represented IBM in connection with this transaction. Financial terms were not disclosed. The acquisition is expected to close in the first quarter of 2012.
The Cravath team included partner George F. Schoen and associate John C. Duffy on corporate matters; partner Jennifer S. Conway and practice area attorneys Michael Krasnovsky and M. C. Tania Balthazaar on executive compensation and benefits matters; partner Andrew W. Needham and associates Jonathan J. Katz and William B. Abbott on tax matters; and partner Matthew Morreale on environmental matters. Deborah R. Eltgroth and Jennifer L. Sabin also worked on corporate and tax matters, respectively.