New York City-based private equity firm Centerbridge Partners acquires the IBM marketing software division, with the aim to create a standalone company working on marketing and commerce solution.
Financial details of the deal are not available.
The newly created company owns IBM Marketing Platform, together with other marketing automation tools, marketing analytics, an AI-powered content management system, an open ecosystem connector and robust services. Leading it as CEO is IBM Marketing Platform and Commerce offerings VP Mark Simpson, together with other Big Blue execs.
"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," Simpson says. "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."
Marketing software is not the only division IBM has shed in recent years-- just last December Big Blue sold WebSphere Commerce, the flagship e-commerce platform, together with other automated marketing and security solutions, to India-based HCL technologies.
Go Centerbridge Partners to Acquire IBM’s Marketing Platform and Commerce Software Offerings
