IBM’s Sale of Marketing Platform and Commerce Software Offerings to Centerbridge Partners
April 05, 2019
On April 4, 2019, IBM and Centerbridge Partners, L.P. (“Centerbridge”) announced a definitive agreement under which funds advised by affiliates of Centerbridge will acquire IBM’s marketing platform and commerce software offerings. The transaction is expected to close in mid‑2019, subject to completion of applicable regulatory reviews and customary closing conditions. After closing, Centerbridge intends to form a standalone company that will deliver a modern, comprehensive portfolio of solutions to meet the CMO’s biggest challenges across marketing and advertising. Cravath is representing IBM in connection with the transaction.
The Cravath team is led by partner George F. Schoen and includes associates Joshua Ayal, Daniel J. Cerqueira, Matthew L. Ploszek, Justin B. Stein, Eliza Marshall Foley and Saagar Kaul on M&A matters; and associates Sally Ye and Anna Mikaelyan on executive compensation and benefits matters; partner Andrew W. Needham, senior attorney Andrew Carlon, associate Peter W. Rogers and foreign associate attorney Nicolaas Versteeg on tax matters; and senior attorney Joyce Law on real estate matters. Maria Ricaurte also worked on M&A matters.
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J.D., 1998, University of Chicago Law Schoolwith Honors
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B.A., 1982, University of Arizona College of Law
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