Technology

Cravath represented the initial purchasers in connection with the $500 million 144A/Reg. S high-yield senior notes offering of Science Applications International Corporation ("SAIC"), a leading provider of technical, engineering and enterprise information technology services primarily to the U.S. government. The transaction closed on September 25, 2025.

On October 3, 2025, White Mountains Insurance Group, Ltd. (“White Mountains”), a Bermuda-domiciled financial services holding company, announced that it has signed a definitive agreement to sell a controlling interest in Bamboo, a data-enabled insurance distribution platform, to funds advised by CVC Capital Partners (“CVC”) in a transaction that values Bamboo at $1.75 billion. White Mountains expects the transaction will result in a gain of approximately $310 to its book value per share and net cash proceeds of approximately $840 million. White Mountains will retain an approximately 15% fully-diluted equity stake in Bamboo post-closing, valued at $250 million based on the transaction. Cravath is representing White Mountains and Bamboo in connection with the transaction.

On September 30, 2025, TXSE Group Inc (“TXSE Group”) announced that the U.S. Securities and Exchange Commission (“SEC”) has formally approved the Texas Stock Exchange’s Form 1 registration to operate as a national securities exchange. Cravath represented TXSE Group in connection with this matter. 

On September 30, 2025, Future Standard, a global alternative asset manager, announced it has entered into an agreement to acquire the Digital Infrastructure platform of Post Road Group, an alternative investment advisory firm. The platform specializes in credit and structured equity investments across digital infrastructure assets, including data centers, fiber networks and cloud connectivity. Cravath is representing Future Standard in connection with the transaction.

Cravath represented the underwriters in connection with the $2.9 billion registered notes offering of Hewlett Packard Enterprise Company, an industry leading technology company. The transaction closed on September 15, 2025. 

On October 6, 2025, Cravath partner Elad Roisman participated in the 2025 Blockchain Regulatory Symposium, hosted by Fordham Law School in New York City. The symposium provided a platform for discussions on a range of topics, including the tension between innovation and regulation in the U.S. and globally. Elad spoke on a panel entitled “Wall Street Meets Crypto... on Wall Street,” which brought together leading corporate, capital markets and M&A practitioners to discuss key considerations as crypto companies begin transitioning from private market launchpads to public markets and what comes next.

On October 1, 2025, Cravath partners Sharonmoyee Goswami and Helam Gebremariam participated in the 21st Annual Career Strategies Conference, which was hosted by Corporate Counsel Women of Color from October 1-4 in Chicago. The conference convened attorneys from companies, law firms and government agencies. Sharon spoke during a session entitled “Duty of Competence: Keeping Up with Changes in Law and Technology and IP Trends.” Helam spoke during a session entitled “Navigating the Legal Landscape: Empowering First-Generation Attorneys for Success.”

On September 25, 2025, European counsel Nicoleta D. Lupea participated in the 8th Annual IBA European Start‑up Conference in Cascais, Portugal. Nico spoke on a panel entitled “Navigating Ethics for Startup Lawyers.” The panel highlighted the unique ethical challenges faced by lawyers advising fast‑growing companies and investors, including managing conflicts of interest in founder–investor dynamics, preserving confidentiality, ensuring competence and maintaining transparency around fees. The panel also emphasized the benefits of strong ethical standards in safeguarding clients’ trust and supporting sustainable growth and the integrity of the profession in the startup and growth equity ecosystem.

On September 18, 2025, Cravath published the fifth edition of its Cravath Data Privacy and Security Review newsletter. The Review provides an overview of recent U.S. state and federal legislative and regulatory developments, alongside U.S. and global enforcement trends and takeaways, in data privacy and cybersecurity for the first six months of 2025. It first presents an update on emerging and existing privacy and security legislation at the federal level, including amendments to the Children’s Online Privacy Protection Rule, then highlights notable legislative developments at the state level across the country. This edition also explores the heightened focus on cybersecurity- and privacy‑related enforcement at federal agencies, including the Federal Trade Commission, Securities and Exchange Commission and Department of Justice, and provides global enforcement updates from the European Union and China.

On September 17, 2025, Cravath partner D. Scott Bennett participated in The L Suite’s 2025 General Counsel IPO Conference, which was held from September 16‑17 in San Francisco. The conference hosted general counsels and chief legal officers at early, growth and late‑stage private companies to discuss strategic insights and legal guidance for navigating the evolving IPO landscape, including market timing, raise sizing, managing late-stage investors, dual‑track and SPAC considerations and sector-specific momentum in areas like technology and AI. Scott co‑led a roundtable discussion entitled “Leading Through the Unknown: The GC’s Role in IPO‑Adjacent Crisis Management,” which explored how general counsels can proactively build crisis response into IPO planning, support the CEO and leadership team under pressure, maintain investor confidence and manage legal exposure when plans shift unexpectedly.