Centerbridge Partners to Acquire IBM's Marketing and Commerce Software
Centerbridge Partners ;will acquire IBM's marketing platform and commerce software offerings and intends to form a stand-alone company that will deliver a portfolio of solutions across marketing and advertising. Financial terms of the deal were not disclosed.
IBM's marketing and commerce software includes the following:
- Campaign Automation;
- Marketing Assistant;
- Media Optimizer;
- Customer Experience Analytics;
- Content Hub;
- Real-Time Personalization;
- Personalized Search;
- Universal Behavior Exchange;
- Intelligent Bidder;
- Price & Promotion Optimization; and
- Payments Gateway.
Centerbridge will position the stand-alone company by further investing in AI, growing the marketing ecosystem, and giving marketers tools to protect user privacy.
"We are excited about this next chapter, which will enable us to build on the significant steps we have taken over the last few years to modernize the portfolio. Once closed, this transaction will help us accelerate our efforts to empower our clients to make smarter, more timely decisions in their marketing and advertising initiatives. We look forward to working with Centerbridge's world-class team to ensure a smooth transition and position the business to drive the next generation of marketing clouds," said Mark Simpson, an IBM vice president who will take over as CEO of the new company for Centerbridge, in a statement.
"IBM plans to work with Centerbridge on cloud and AI to help our customers continue to transform in this new era of technology, and we hope to find additional ways to continue collaborating for the longer term," said Inhi Cho Suh, general manager of IBM, in a statement.