IBM’s Acquisition of Application Modernization Capabilities from Advanced
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.
The Cravath team is led by partners George F. Schoen, Jin‑Kyu Baek and Cole DuMond and includes associates Olivia Ya Huang, Armin Hoss, Luke A. Martin and Morgan S. Lucey on M&A matters; partner J. Leonard Teti II, of counsel Kiran Sheffrin and associate Clayton Hackney on tax matters; partners Jonathan J. Katz and Amanda Hines Gold and associates Brendon J. Rivard and Bianca Hsing on executive compensation and benefits matters; partner Matthew Morreale and associate Star S. Gulant on environmental matters; and senior attorney Joyce Law on real estate matters. Chloe Amarilla also worked on tax matters and Jonathan Nickas also worked on executive compensation and benefits matters.
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