IBM’s €2.13 Billion Acquisition of StreamSets and webMethods Platforms from Software AG

On December 18, 2023, IBM announced that it has entered into a definitive agreement with Software AG, a company majority owned by Silver Lake, to purchase StreamSets and webMethods, Software AG's Super iPaaS (integration platform‑as‑a‑service) enterprise technology platforms, for €2.13 billion in cash. StreamSets will add data ingestion capabilities to watsonx, IBM's AI and data platform, while webMethods will give clients and partners additional integration and API management tools for their hybrid multi‑cloud environments. Cravath is representing IBM in connection with the transaction.

The Cravath team is led by partners George F. Schoen and Jin‑Kyu Baek and includes associates Olivia Ya Huang and Nicholas B. Singer on M&A matters; partner J. Leonard Teti II and of counsel Kiran Sheffrin on tax matters; of counsel Sarah W. Colangelo on executive compensation and benefits matters; partner Matthew Morreale and associate Star S. Gulant on environmental matters; of counsel Jesse M. Weiss on antitrust matters; and senior attorney Joyce Law and practice area attorney Lauren Piechocki on real estate matters. Liza C. Clark also worked on M&A matters, Chloe Amarilla worked on tax matters and Oscar Porter worked on executive compensation and benefits matters.