IBM has agreed to sell its marketing platform and commerce software offerings in a deal with private equity firm Centerbridge, which will then set up a new standalone company, offering a portfolio of solutions for CMOs. Terms of the deal have not been disclosed.
The current IBM portfolio includes customer experience analytics, real-time personalization, and price and promotion optimization, as well as marketing automation tools, marketing analytics, and an AI-powered content management system. Jared Hendricks, Senior MD at Centerbridge, says his firm is committed to advancing the new firm's products through continued investment, and it intends to accelerate existing product roadmaps and introduce new categories.
Mark Simpson (pictured), who is currently VP, Offering Management and Strategy for the IBM Marketing Platform, will lead the as yet unnamed business. He previously founded and served as President of customer experience optimization business Maxymiser, which was acquired by Oracle where Simpson spent a year as Group VP, Business Development before joining IBM.
Commenting on the deal, Simpson said: '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. Once closed, this transaction will help us accelerate our efforts to help clients 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.'
Web sites: www.ibm.com and www.centerbridge.com .
All articles 2006-19 written and edited by Mel Crowther and/or Nick Thomas.