On October 13, 2010, IBM announced that it has acquired PSS Systems, Inc., a privately held company based in Mountain View, California. Cravath represented IBM in connection with this transaction. PSS Systems’s software helps organizations analyze, automate and implement information-governance policies across very large amounts of electronic business information and dispose of that information in an automated way. Financial terms of the deal were not disclosed.
The Cravath team included partner Andrew R. Thompson and associates Brandon R. DeFrehn, D. Gordon Cruess and Victor V. Ludwig on corporate matters; partner Andrew W. Needham and associates Andrew Carlon and Karen Kim on tax matters; partner Jennifer S. Conway and associates Kimberly L. Steefel, Kevin E. Manz and Michael J. Schobel on executive compensation and benefits matters; and practice area attorney Matthew Morreale on environmental matters.