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September 18, 2019Cart

Business

by Westchester County Business Journal
by WCBJ

IBM sells marketing platform and commerce software platform to Centerbridge Partners

IBM has sold its marketing platform and commerce software offerings to Centerbridge Partners LP, a New York City private investment management firm. The financial terms of the transaction were not made public.

Upon completion of the acquisition, Centerbridge plans to create a new standalone company providing the products and services acquired in the deal, including marketing automation tools, marketing analytics, an artificial intelligence-powered content management system and an open ecosystem connector.

The new company’s name will be determined after the close of the deal and Mark Simpson, vice president of offering management and strategy for the IBM Marketing Platform and Commerce, will become the new entity’s CEO.

“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 at Armonk-based IBM.