IBM’s x86 Server Business Acquired by Lenovo for $2.3 Billion
January 23, 2014
On January 23, 2014, IBM and Lenovo announced a definitive agreement in which Lenovo plans to acquire IBM’s x86 server business for a purchase price of approximately US$2.3 billion, approximately two billion of which will be paid in cash and the balance in Lenovo stock. Cravath represented IBM in connection with this transaction. The x86 server business includes System x, BladeCenter and Flex System blade servers and switches, x86‑based Flex integrated systems, NeXtScale and iDataPlex servers and associated software, blade networking and maintenance operations. The transaction is subject to the satisfaction of regulatory requirements, customary closing conditions and any other needed approvals.
The Cravath team included partner George F. Schoen and associates Nicholas A. Dorsey, Aaron D. Suh, Maya A. Rosenthal‑Larrea, Kenneth S. Gerold and James C. Pickel Jr. on M&A matters; associates Jarrett R. Hoffman and Matthew Cantor on executive compensation and benefits matters; partner J. Leonard Teti II and associates Andrew Carlon and Rachel H. Kiwi on tax matters; partner Matthew Morreale on environmental matters; and practice area attorney Joyce Law on real estate matters.
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People
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J.D., 1998, University of Chicago Law Schoolwith Honors
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B.A., 1994, Cornell University
- New York
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J.D., 2005, University of Virginia School of LawOrder of the Coif
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A.B., 1999, Princeton Universitywith Honors
- New York
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J.D., 1997, Columbia Law SchoolHarlan Fiske Stone Scholar
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M.S., 1994, University of Pennsylvania
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B.A., 1990, University of Pennsylvania
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B.A.S., 1990, University of Pennsylvania
- New York
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J.D., 1997, Boston University School of Law
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B.Comm., 1994, University of AlbertaDistinction
- New York
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