Technology

Cravath represented ADT Inc. in connection with the $613.4 million registered secondary offering of common stock and share repurchase by certain entities managed by affiliates of Apollo Global Management, Inc. ADT Inc. is a leading provider of security, interactive, and smart home solutions. The transaction closed on March 4, 2025.

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.

Cravath represented the administrative agent, joint lead arrangers and joint bookrunners in connection with a $600 million inaugural term loan B facility made available to DraftKings, Inc. for general corporate purposes. DraftKings is a digital sports entertainment and gaming company created to be the Ultimate Host and fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming, and digital media. The transaction closed on March 4, 2025.

Cravath represented the underwriters in connection with the $1 billion registered senior notes offering of Expedia Group, Inc., an online travel company. The transaction closed on February 21, 2025.

Cravath represented OT Midco Inc. in connection with its $637.5 million 144A/Reg. S high‑yield senior secured notes offering. OT Midco Inc. is a wholly owned subsidiary of Outbrain Inc., a leading technology platform that connects media owners and advertisers to over a billion unique consumers around the world. Proceeds of the offering were used to repay, in full, the bridge facility used to finance Outbrain Inc.’s acquisition of Teads S.A. The transaction closed on February 11, 2025.

Cravath partners Gary A. Bornstein and Kevin J. Orsini were named to Crain’s New York Business’s list of “Notable Litigators and Trial Attorneys,” published on March 24, 2025. The list honors “a talented cohort” of litigators and trial attorneys who are “shaping precedent and advocating for their clients across industries and issues.”

On March 20, 2025, Cravath of counsel Kathryn-Ann Stamm participated in the International Trademark Association (INTA)’s The Business of Trade Secrets: Navigating the Challenges and Opportunities in the Ever‑Changing World of AI Conference, which was held from March 19‑20 in New York. Kathryn‑Ann moderated a session entitled “Safeguarding Trade Secrets in the Digital Age: Essential Cybersecurity Strategies,” which reviewed how to best protect a company and its trade secrets against and following cyberattacks, including essential cybersecurity practices, key components of effective cybersecurity policy and how to recover from breaches.

In March 2025, Cravath continued its “Tech Explainers” series, which introduces and explains technical, cutting‑edge concepts and describes their importance in a way that is accessible to and easily understood by business and legal professionals outside the technical community.

On March 6, 2025, Benchmark Litigation honored Cravath at the publication’s sixteenth annual U.S. Awards, which was held in New York City in honor of “the elite litigators and the firms that set the standard for excellence.” The Firm was awarded Benchmark Litigation’s “Antitrust Firm of the Year” award. Cravath partners David R. Marriott and Timothy G. Cameron accepted the award on behalf of the Firm.

On February 25, 2025, Cravath was featured by Law360 as a “Securities Practice Group of the Year.” The profile highlighted the Firm’s “reputation as one of the top law firms that companies rely on for representation when faced with derivative lawsuits, investor class actions and other securities‑related litigation,” and recognized in particular the Firm’s representation of Robinhood in the sprawling “Meme Stock” litigation; Forward Air in its amended agreement to acquire Omni Logistics, resolving previously announced litigation; Root in its Sixth Circuit win affirming the dismissal of a putative securities class action; and Mylan in its appellate win affirming summary judgment in a securities class action.