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IBM's Joint Venture with Maersk

On January 16, 2018, IBM and A.P. Moeller – Maersk (“Maersk”) announced their intent to establish a joint venture to provide more efficient and secure methods for conducting global trade using blockchain technology. The aim of the new company will be to offer a jointly developed global trade digitization platform built on open standards and designed for use by the entire global shipping ecosystem. It will address the need to provide more transparency and simplicity in the movement of goods across borders and trading zones. Cravath is representing IBM in connection with the transaction.

The Cravath team is led by partners George F. Schoen and Keith Hallam and includes associates Brendan M. Cottington, Robert C. Warshaw and Caleb B. Rosser on M&A matters; partner J. Leonard Teti II and associate Cecily Xi on tax matters; and partner Jennifer S. Conway and associates Matthew Cantor and Christopher C. Gonnella on executive compensation and benefits matters.