Technology

Cravath represented iBanFirst, a portfolio company of Marlin Equity Partners, in connection with the amendment and restatement of its senior facilities agreement to implement a new term loan facility. Marlin Equity Partners is a leading global investment firm. The transaction closed on December 19, 2024.

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 January 13, 2025, Cravath published the fourth edition of its Cravath Data Privacy and Security Review newsletter. The Review provides an overview of U.S. state and federal legislative and regulatory developments, alongside U.S. and global enforcement trends and takeaways, in data privacy and cybersecurity for the last six months of 2024. The Review also provides an update on emerging and existing privacy and security legislation at the federal level, including the Video Privacy Protection Act, and highlights notable legislative developments at the state level, including in California, Illinois, New York and Pennsylvania. This edition highlights the heightened focus on cybersecurity and privacy‑related enforcement at federal agencies including the Federal Trade Commission, Securities and Exchange Commission, Department of Health and Human Services and Department of Justice, and provides global enforcement updates from the European Union, Australia and China.

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.