The financial terms and conditions of the transaction were not disclosed. It is expected to close in mid-2019, subject to completion of applicable regulatory reviews and customary closing conditions.
IBM’s marketing and commerce software offerings include:
– Campaign Automation
– Marketing Assistant
– Media Optimizer
– Customer Experience Analytics
– Content Hub
– Real-Time Personalization
– Personalized Search
– Universal Behavior Exchange
– Intelligent Bidder
– Price & Promotion Optimization
– Payments Gateway
After closing, Centerbridge intends to form a standalone company that will deliver a 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. It will be led by Mark Simpson as CEO, after the closing, along with other key IBM executives, and will move its headquarters to New York City.
Mr. Simpson is currently Vice President, Offering Management and Strategy for the IBM Marketing Platform and Commerce offerings. He was previously the founder and president of Maxymiser, a recognized leader in customer experience optimization.
Centerbridge plans to establish a board of directors for the new company, which will include independent members with deep marketing and software experience and will position the standalone organization to lead marketing and commerce software solutions, by further investing in AI, growing the marketing ecosystem, and giving marketers tools to protect user privacy.