Centerbridge Partners, L.P. (“Centerbridge”) recently announced that funds advised by Centerbridge completed at the end of June the acquisition of IBM’s marketing platform and commerce software offerings (the “Company”). The Company is now a standalone organization and the largest independent marketing cloud, providing a comprehensive suite of AI-powered solutions that address today’s complex marketing and advertising challenges across verticals.
“The marketing cloud industry is ripe for disruption, and we are in a unique position to better support customers through the power of scaled resources and a start-up mindset,” said Mark Simpson, the Company’s Chief Executive Officer. “Marketers and advertisers are eager to break away from general purpose technology that is not adaptable to their needs. Our open platform and purpose-built solutions have helped marketers make sense of their data by getting deeper insights from technology since the earliest days of AI and using data to drive actionable insights across silos. As an independent company with Centerbridge’s partnership and investment commitment, we will further ignite innovation and enhance our ability to help our customers find new ways to resonate with their stakeholders.”