Next Generation of Marketing and Commerce Software Solutions; Accelerates Mission to Bring AI to the CMO Post-Close, Current Executive Team to Continue Leading Business
A definitive agreement under which funds advised by affiliates of Centerbridge will acquire IBM’s marketing platform and commerce software offerings (the “Company”). The transaction is expected to close in mid-2019, subject to completion of applicable regulatory reviews and customary closing conditions.
After closing, Centerbridge intends to form a standalone company that will deliver a modern, comprehensive portfolio of solutions to meet the CMO’s biggest challenges across marketing and advertising. The Company will announce a new name and brand identity, which will be launched after close.
The Company will be led by Mark Simpson as CEO, after the closing, along with other key IBM…
