Centerbridge to acquire IBM’s Marketing Platform and Commerce Software Offerings.

Centerbridge Partners agreed to acquire IBM’s marketing platform and commerce software offerings from IBM. Financial terms were not disclosed. 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 the close. “The Company is a demonstrated leader in offering AI-powered marketing solutions in an ever-evolving industry. We are deeply committed to advancing these compelling products through continued investment and intend to accelerate existing product roadmaps and introduce new categories. Following the close, we look forward to working with existing business partners and the Company’s highly talented team, including Mark Simpson, whose industry experience and significant domain expertise make him the perfect fit to lead this business during its next phase of growth.” Jared Hendricks, Centerbridge Senior Managing Director.