On June 4, 2013, IBM announced a definitive agreement to acquire SoftLayer Technologies, Inc., the world’s largest privately held cloud computing infrastructure provider. Financial terms were not disclosed. Cravath represented IBM in connection with this transaction, which is expected to close in the third quarter of 2013 following satisfaction of customary closing conditions including regulatory clearances.
The Cravath team included partner Eric L. Schiele and associates Zachary R. Smith and Ankur N. Patel on M&A matters; partner Jennifer S. Conway, practice area attorney Michael Krasnovsky and associate Sarah E. Fortt on executive compensation and benefits matters; and partner Andrew W. Needham and associates Christopher K. Fargo and Brian Kozlowski on tax matters. Laura E. Hansell also worked on M&A matters.
