On September 20, 2010, IBM (NYSE: IBM) and Netezza Corporation (NYSE: NZ) announced a definitive agreement for IBM to acquire Netezza in a cash transaction at a price of $27 per share or at a net price of approximately $1.7 billion, after adjusting for cash. The acquisition, which is subject to Netezza shareholder approval, applicable regulatory clearances and other customary closing conditions, is expected to close in the fourth quarter of 2010.
Netezza is the global leader in data warehouse, analytic and monitoring appliances that dramatically simplify high-performance analytics across an extended enterprise. Netezza's technology enables organizations to process enormous amounts of captured data at exceptional speed, providing a significant competitive and operational advantage in today's data-intensive industries, including digital media, energy, financial services, government, health and life sciences, retail and telecommunications.
WilmerHale represented Netezza in this transaction. The WilmerHale team was led by corporate partners Hal Leibowitz, Jeff Hermanson and David Westenberg and included executive compensation partner Scott Kilgore, tax partner Roger Ritt and associates Elizabeth Black, Debra Charish, Jill DiGiovanni, Christopher Frankenfield, Adam Huff, Kavitha Kadambi, Jessica Martin, Stephen Migausky, Jennifer Neilsson, Jeffries Oliver-Li, Carolyn Rucci, Astrid Tsang and Meghan Walsh.