International Business Machines Corporation (NYSE:IBM) entered into an agreement to acquire webMethods Germany GmbH / StreamSets, Inc. from Software AG USA, Inc. and Software Aktiengesellschaft (XTRA:SOW) for approximately ?2.1 billion on December 18, 2023. Under the terms of acquisition, IBM is paying consideration in cash which is subject to customary closing adjustments. StreamSets and webMethods will be acquired with available cash on hand.

As a part of acquisition, the brilliant people remaining with the company will continue innovating for the benefit of our customers, employees and all our other stakeholders. The consummation of the transaction is subject to customary closing conditions, including regulatory approvals. Supervisory Board of Software AG has approved the respective decision by the Management Board for the acquisition.

It is expected to be completed in the second quarter of 2024. As of February 26, 2024 The acquisition is expected to close in mid-year 2024. Martin Ulbrich, Maximilian Schiessl, Oda Goetzke, Oliver Rieckers from corporate team, Gunther Wagner from tax, Jan Bonhage Erasmus Hoffmann from FDI, Christian Hoefs, Sonnhild Draack from Employment team and Matthias Rothkopf from IP/IT of Hengeler Mueller acted as legal advisor to Software AG and R. Howe, Elizabeth Cooper, Mark Viera, Ben Schaye, Christopher Vallance(M&A); Lori Lesser (IP and Data); Andrew Blau ECEB); and Russell Light, Sarah Lindley (Tax) of Simpson Thacher acted as legal advisor to Software AG.

Julian Lemor, Florian Sippel, Till Kosche, Renata Patoka, Julian Schulze De la Cruz, Boris Blunck and Andre Happel of Noerr Partnerschaftsgesellschaft mbB and George F. Schoen, O. Keith Hallam III and Jin-Kyu Baek, J. Leonard Teti II, Kiran Sheffrin, Amanda Hines Gold, Sarah W. Colangelo, Matthew Morreale, Jesse M. Weiss, Joyce Law, Lauren Piechocki, Liza C. Clark, Chloe Amarilla and Oscar Porter of Cravath, Swaine & Moore LLP acted as legal advisor to IBM.