Technology

On December 3, 2024, OMERS Private Equity, which manages investments globally on behalf of OMERS, one of Canada’s largest defined benefit pension plans, announced the signing of a definitive agreement to acquire a majority stake in Integris, a leading provider of IT services in the United States, from Frontenac, a Chicago‑based private equity firm. Financial terms of the transaction were not disclosed. Cravath is representing OMERS Private Equity in connection with the transaction.

Cravath represented Morgan Stanley, as administrative agent, joint lead arranger, joint bookrunner and collateral agent, in connection with a $500 million revolving credit facility made available to DraftKings Inc. and certain of its subsidiaries. DraftKings Inc. operate as a digital sports entertainment and gaming company in the United States and internationally. The transaction closed on November 7, 2024.

On November 19, 2024, Robinhood Markets, Inc. (“Robinhood”) announced that it has entered into an agreement to acquire TradePMR, a custodial and portfolio management platform for Registered Investment Advisors. Final deal consideration is expected to be approximately $300 million, subject to customary purchase price adjustments, consisting of a mix of cash and stock. Cravath is representing Robinhood in connection with the transaction.

On November 13, 2024, Just Eat Takeaway.com N.V. (“Just Eat Takeaway.com”), one of the world’s leading global online food delivery companies, announced that it has entered into a definitive agreement to sell Grubhub Inc. (“Grubhub”) to Wonder Group, Inc. (“Wonder”) for an enterprise value of $650 million. Grubhub will be transferred with its $500 million of senior notes. Cravath is representing Just Eat Takeaway.com in connection with the transaction.

On November 7, 2024, United States Cellular Corporation (“UScellular”) announced that it has entered into an agreement with AT&T to sell a portion of the company's retained spectrum licenses for total consideration of $1.018 billion. The transaction is part of the objective UScellular announced on May 28, 2024, to opportunistically monetize the spectrum that was not included in the proposed sale to T‑Mobile; and follows the transactions previously announced on October 18, 2024, to sell a portion of the retained spectrum licenses to Verizon and two other mobile network operators. Cravath is representing the independent directors of UScellular in connection with the transaction.

On December 11, 2024, Cravath’s antitrust practice was ranked among the “Elite” in Global Competition Review’s 2025 edition of GCR 100, a guide to the world’s leading competition law and economics practices. This is the thirteenth consecutive year the Firm has been ranked in the highest tier among New York Firms by GCR. The publication highlighted Cravath’s “bountiful antitrust work,” including its role representing clients Epic Games in litigation against Google and Apple; Meta in putative class action and individual antitrust litigation; and Amgen in a successful defense against an FTC challenge to its $27.8 billion acquisition of Horizon Therapeutics.

On December 10, 2024, Cravath was recognized by the Financial Times in connection with its annual “North America Innovative Lawyers” report, which showcases “the most innovative work and legal services that lawyers have developed for their clients in North America.” In the “Dispute Resolution” category, the Firm received “Highly Commended” honors for its representation of Epic Games in securing a unanimous jury verdict, on all counts, in its antitrust lawsuit against Google.

On November 12, 2024, Cravath partner Rachel Skaistis was profiled in Lawdragon’s “Lawyer Limelight” series alongside her sister Hannah Ross, who is a partner at a different New York-based law firm. In the joint Q&A, Rachel and Hannah discussed their parallel paths to partnership and reflected on their individual practices in securities law. Describing what she is proudest of in her work, Rachel said: “I have had the privilege of working with such amazing lawyers, and I’ve gotten to learn from so many litigation styles. But it is nice to get to a point where you feel like you have found a style of practicing and advising your clients that is true to who you are.” The sisters also spoke about the mentors and role models, including each other, who helped shape their careers as female litigators.

Cravath partner Jelena McWilliams participated in FinRegLab’s 2024 AI Symposium, which was held on November 21, 2024, in Washington, D.C. The event convened leaders in financial services, technology and public policy to engage with key topics surrounding the risks and opportunities created by AI in the financial services landscape. Jelena moderated a panel entitled “Beyond Innovation for Innovation’s Sake: Building with and For People’s Financial Lives,” in which panelists discussed the potential they see with AI, how to place appropriate safeguards and design around consumer well-being and the challenges policymakers face in guiding the technology.

On November 19, 2024, Cravath partner Jelena McWilliams participated in the American Fintech Council’s 2024 Policy Summit in Washington, D.C. The event convened industry leaders, academics, consumer groups and policymakers to discuss emerging trends and the future of financial technology. Jelena was featured in a keynote fireside chat entitled “An Update on Responsible Regulation for Smart Innovation.”