S&C Advises ConsenSys in Acquiring Quorum Enterprise Blockchain Platform from JPMorganSeptember 9, 2020
Blockchain software leader ConsenSys has acquired JPMorgan's enterprise blockchain platform Quorum, an open-source Ethereum-based platform that enables companies to build customizable, secure blockchain solutions. As part of the deal, which closed August 25, JPMorgan made an investment in ConsenSys. JPMorgan will continue to use Quorum to run the Interbank Information Network, a payments network that involves more than 300 banks.
ConsenSys is a leading software company for Ethereum, the largest programmable blockchain in the world.
In connection with the acquisition, ConsenSys transferred its enterprise software business to a newly formed entity, ConsenSys Software Inc.; and JPMorgan made a strategic investment in ConsenSys Software Inc. to support its future business.
The S&C team advising ConsenSys was led by Rebecca Simmons and Matt Hurd and included Ron Creamer advising on tax matters, Jeannette Bander advising on executive compensation and benefit matters, and Nader Mousavi advising on intellectual property matters.