Cravath’s New York Office Moves to Two Manhattan West
On May 29, 2011, Cravath client IBM entered into an agreement to settle a lawsuit brought by Neon Enterprise Software in the U.S. District Court for the Western District of Texas in December 2009. The suit concerned Neon’s software product, zPrime. Neon’s claims, seeking billions of dollars in alleged damages, included false advertising, business disparagement, tortious interference with prospective contracts and monopolization. IBM counterclaimed for breach of contract, tortious interference with contract and false advertising. In February 2011, the court issued a decision denying both parties’ motions for summary judgment, but upholding IBM’s interpretation of the relevant contracts. Certain fact questions were left for the jury. The case settled on the eve of trial, resulting in IBM’s winning a permanent injunction against Neon and the dismissal of all claims and counterclaims.
The Cravath team included partners Evan R. Chesler and Richard J. Stark and associates Jisun Park, Jefferson E. Bell, Joseph E. Lasher, Vicki McCall, Nava S. Sanders, Benjamin H. Diessel, Andrew D. Hale, Derek Mize, Derek Musa, Austin Van, Felicia Einhorn, Brian M. Jenks and Pawan Nelson. Corporate partner George F. Schoen assisted with settlement negotiations.
Deals & Cases
September 10, 2024
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.
Deals & Cases
February 20, 2024
Cravath represented IBM International Capital Pte. Ltd (“IIC”) and International Business Machines Corporation (“IBM”) in connection with IIC’s $5.5 billion registered notes offering. IBM is a guarantor of the notes. IIC is a wholly owned finance subsidiary of IBM, a globally integrated innovation company, serving the needs of enterprises and institutions worldwide. The transaction closed on February 5, 2024.
Deals & Cases
January 25, 2024
On January 18, 2024, IBM announced it has signed a definitive agreement to acquire application modernization capabilities from Advanced, bringing a combination of talent, tools and knowledge to enhance IBM Consulting’s mainframe application and data modernization services. Cravath is representing IBM in connection with the transaction.
Deals & Cases
December 18, 2023
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.
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