Disclaimer :

The Competition DG makes the information provided by the notifying parties in section 1.2 of Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.

Description of the concentration

The Transaction concerns the formation of a joint venture (GTD Operations LLC, the “JV”) by International Business Machines Corporation (“IBM”) and GTD Holdings Inc. (a company within the Maersk Group (“Maersk”) for the development and marketing of a trade digitization solution (the “GTD Solution”), which will provide improved end to end shipment visibility and document management for global trade (the “Transaction”).

IBM is a multinational corporation active worldwide in the development, production, and marketing of a wide variety of information technology (“IT”) solutions, comprising software, systems (such as servers and storage systems), and services (such as business consulting and IT infrastructure services). IBM is a public company headquartered in Armonk, New York, United States of America. It is listed on the New York Stock Exchange (ticker: IBM).

Maersk is an international group with activities in container shipping, terminal services, harbor towage, logistics, and a separate energy division (in particular exploitation of oil and gas, drilling, and operation of tankers). Maersk is a public company headquartered in Copenhagen, Denmark. It is listed on NASDAQ OMX Copenhagen (tickers: MAERSK A and MAERSK B).

The JV entity is a Delaware limited liability company and wholly owned indirect subsidiary of Maersk. As a result of the Transaction, the JV entity will issue – and GTD Holdings and IBM will acquire – units representing fractions of the limited liability company interest in the JV entity in proportions of 49% for IBM and 51% for GTD Holdings. Post-Transaction, the JV will be responsible for the commercialization of the GTD Solution to end-customers.

Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel, BELGIË

Tel: +32 229-91111. Fax: +32 229-64301. E-mail: COMP-MERGER-REGISTRY@ec.europa.eu.