IBM’s Acquisition of Promontory Financial Group
September 30, 2016
On September 29, 2016, IBM announced plans to acquire Promontory Financial Group, a global market‑leading risk management and regulatory compliance consulting firm. Upon close, the capabilities of Promontory combined with IBM’s industry expertise and Watson’s cognitive capabilities will directly address the massive operational effort and manual cost of escalating regulation and risk management requirements. Cravath is representing IBM in connection with the transaction. Financial terms were not disclosed.
The Cravath team is led by partner George F. Schoen and includes associates Jacob B. Ornstein and Nicoleta D. Lupea on M&A matters; senior attorney Lawrence A. Pasini, practice area attorney Romica Singh and associates Brian B. Kennedy and Peretz Riesenberg on executive compensation and benefits matters; partner J. Leonard Teti II and associate Lingfeng Li on tax matters; partner Matthew Morreale on environmental matters; senior attorney Jesse M. Weiss on antitrust matters; and senior attorney Joyce Law on real estate matters.
Related Practices & Industries
People
- Photo
-
-
J.D., 2005, University of Virginia School of LawOrder of the Coif
-
A.B., 1999, Princeton Universitywith Honors
- New York
Education
Admitted In
- Photo
-
-
J.D., 1997, Columbia Law SchoolHarlan Fiske Stone Scholar
-
M.S., 1994, University of Pennsylvania
-
B.A., 1990, University of Pennsylvania
-
B.A.S., 1990, University of Pennsylvania
- New York
Education
Admitted In
Related News & Insights
Deals & Cases
April 07, 2025
IBM’s Acquisition of Hakkoda
On April 7, 2025, IBM announced it has acquired Hakkoda Inc., a leading global data and AI consultancy. Hakkoda will expand IBM Consulting's data transformation services portfolio, adding specialized data platform expertise to help clients get their data ready to fuel AI‑powered business operations. Cravath is representing IBM in connection with the transaction.
Deals & Cases
September 10, 2024
IBM’s Acquisition of Accelalpha
On September 9, 2024, IBM announced its intent to acquire Accelalpha, a global Oracle services provider with deep expertise helping clients digitize core business operations and accelerate adoption of Oracle Cloud Applications. This acquisition expands IBM's Oracle consulting expertise in supply chain and logistics, finance, enterprise performance management and customer transformation. Cravath is representing IBM in connection with the transaction.
