IBM’s x86 Server Business Acquired by Lenovo for $2.3 Billion
January 23, 2014
On January 23, 2014, IBM and Lenovo announced a definitive agreement in which Lenovo plans to acquire IBM’s x86 server business for a purchase price of approximately US$2.3 billion, approximately two billion of which will be paid in cash and the balance in Lenovo stock. Cravath represented IBM in connection with this transaction. The x86 server business includes System x, BladeCenter and Flex System blade servers and switches, x86‑based Flex integrated systems, NeXtScale and iDataPlex servers and associated software, blade networking and maintenance operations. The transaction is subject to the satisfaction of regulatory requirements, customary closing conditions and any other needed approvals.
The Cravath team included partner George F. Schoen and associates Nicholas A. Dorsey, Aaron D. Suh, Maya A. Rosenthal‑Larrea, Kenneth S. Gerold and James C. Pickel Jr. on M&A matters; associates Jarrett R. Hoffman and Matthew Cantor on executive compensation and benefits matters; partner J. Leonard Teti II and associates Andrew Carlon and Rachel H. Kiwi on tax matters; partner Matthew Morreale on environmental matters; and practice area attorney Joyce Law on real estate matters.
Related Practices & Industries
People
- Photo
-
-
J.D., 1998, University of Chicago Law Schoolwith Honors
-
B.A., 1994, Cornell University
- New York
Education
Admitted In
- 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
-
J.D., 1997, Boston University School of Law
-
B.Comm., 1994, University of AlbertaDistinction
- New York
Education
Admitted In
Related News
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.
Deals & Cases
February 20, 2024
IBM International Capital’s $5.5 Billion Registered Notes Offering
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
IBM’s Acquisition of Application Modernization Capabilities from Advanced
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
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.
