IBM’s $1.8 Billion Sale of Select Software Products to HCL
December 06, 2018
On December 6, 2018, IBM and HCL Technologies (“HCL”) announced a definitive agreement under which HCL will acquire select IBM software products, including Appscan, BigFix, Commerce, Connections, Notes & Domino, Portal and Unica, for $1.8 billion. The software products in scope represent a total addressable market of over $50 billion. Cravath is representing IBM in connection with the transaction.
The Cravath team is led by partner George F. Schoen and includes associates Matthew L. Ploszek, Rami Totari and Stephanie M. Park on M&A matters; partner J. Leonard Teti II and associates Peter W. Rogers and Jiyeon K. Barta on tax matters; associates Sally Ye and Alison E. Beskin on executive compensation and benefits matters; and senior attorney Jesse M. Weiss on antitrust matters. Michael P. E. Dooley also worked on M&A matters.
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