Centerbridge To Acquire IBM Marketing Platform

Centerbridge Partners L.P., a private investment management firm, will acquire IBM’s marketing platform and ecommerce software, Centerbridge announced on Thursday. Terms were not disclosed.

The transaction is expected to close in mid-2019, subject to regulatory approval.

A new company will be formed, to be headed by Mark Simpson, currently vice president, offering management and strategy for the IBM Marketing Platform and Commerce offerings. He will serve as CEO.

The company will be headquartered in New York City. The new name and brand identity will be announced after closing.

Centerbridge plans to establish a board of directors for the new company. It expects to invest in AI.

The IBM offerings being acquired 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

“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,” states Inhi Cho Suh, general manager, IBM.

 

 

 

 

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