IBM’s Acquisition of Netezza
September 21, 2010
On September 20, 2010, IBM and Netezza Corporation announced that they have entered into a definitive agreement for IBM to acquire Netezza, a publicly held company based in Marlborough, Massachusetts, in a cash transaction at a price of $27 per share or at a net price of approximately $1.7 billion, after adjusting for cash. Cravath represented IBM in connection with this transaction. The acquisition, which is subject to Netezza shareholder approval, applicable regulatory clearances and other customary closing conditions, is expected to close in the fourth quarter of 2010.
The Cravath team included partner George F. Schoen and associates Benjamin P. Schaye, Jason S. Kollander, Kyle C. Harmon and Kenneth S. Gerold on corporate matters; partner Andrew W. Needham and associates Joanne J. Lee and Andrew Carlon on tax matters; associates Jared R. Whalen and Michael J. Schobel on executive compensation and benefits matters; and practice area attorney Matthew Morreale on environmental 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., 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
- Photo
-
-
M.B.A., 1992, The Wharton School of the University of Pennsylvania
-
LL.M., 1990, Georgetown University Law Center
-
J.D., 1986, Georgetown University Law Center
-
B.A., 1982, University of Arizona College of Law
Education
Related News & Insights
Deals & Cases
April 07, 2025
IBM’s Acquisition of Hakkoda
On April 7, 2025, IBM announced it has acquired Hakkoda Inc., a leading global data and AI consultancy. Hakkoda will expand IBM Consulting's data transformation services portfolio, adding specialized data platform expertise to help clients get their data ready to fuel AI‑powered business operations. Cravath is representing IBM in connection with the transaction.
Deals & Cases
March 18, 2025
Wiz’s $32 Billion Acquisition by Google
On March 18, 2025, Wiz, Inc. (“Wiz”), a leading cloud security platform headquartered in New York, and Google LLC (“Google”) announced they have signed a definitive agreement for Google to acquire Wiz for $32 billion, subject to closing adjustments, in an all‑cash transaction. Once closed, Wiz will join Google Cloud. Cravath is representing Wiz as regulatory counsel in connection with the transaction.
Deals & Cases
March 17, 2025
PepsiCo’s $1.95 Billion Acquisition of poppi
On March 17, 2025, PepsiCo, Inc. (“PepsiCo”) announced that it has entered into a definitive agreement to acquire poppi, a prebiotic soda brand, for $1.95 billion, including $300 million of anticipated cash tax benefits for a net purchase price of $1.65 billion. The transaction also includes an additional potential earnout consideration subject to the achievement of certain performance milestones within a specified period after closing of the transaction. Cravath is representing PepsiCo in connection with the transaction.
Deals & Cases
February 24, 2025
Bridge Investment Group’s $1.5 Billion Acquisition by Apollo
On February 24, 2025, Bridge Investment Group Holdings Inc. (“Bridge”), a leading alternative investment manager diversified across specialized asset classes, and Apollo Global Management, Inc. (“Apollo”) announced they have entered into a definitive agreement for Apollo to acquire Bridge in an all‑stock transaction with an equity value of approximately $1.5 billion. Under the terms of the transaction, Bridge stockholders and Bridge OpCo unitholders will receive 0.07081 shares of Apollo stock for each share of Bridge Class A common stock and each Bridge OpCo Class A common unit, respectively, valued by the parties at $11.50 per each share of Bridge Class A common stock and Bridge OpCo Class A common unit, respectively. Cravath is representing the special committee of the Bridge Board of Directors in connection with the transaction.
