IBM Completes Acquisition Of Data Analytics Firm NetezzaNovember 11, 2010 No Comments
SOURCE: RTT News
International Business Machines Corp. announced Thursday the completion of the acquisition of data analytics firm Netezza Corp. for $27 per share in cash or about $1.7 billion, which was agreed upon on September 20. The deal expands IBM’s information and analytics offerings. Marlborough, Massachusetts-based Netezza will be integrated into IBM’s Information Management software portfolio.
The company is increasingly focusing on software-related services, rather than limiting it to the hardware market. The acquisition represents a good strategic addition to IBM’s existing business analytics software efforts and highlights IBM’s increasing focus on its software analytics capabilities. IBM has more than 6,000 IBM consultants are dedicated to analytics.
The acquisition will help IBM clients gain faster insights into their business information, with increased performance at a lower cost of ownership.
The two companies have been strategic partners for many years focused on workload optimized systems. Netezza designs and develops its appliances on IBM systems technology and, combined with IBM software, powers many applications within organizations.
According to a recent Global IBM Study, 83% of Chief Information Officer’s identified analytics as a top priority. Meanwhile, IBM has invested more than $14 billion in 24 acquisitions to expand its analytics capabilities in the past four years. In latest third-quarter, IBM’s analytics business grew 14%.
IBM, which is on a buying spree, and completed the acquisition of privately-held BigFix Inc. in July. In the month of August, IBM acquired Datacap Inc., Coremetrics, a Web analytics software company, and AT&T Inc.’s (T) Sterling Commerce business software unit. The company also acquired Storwize, a privately-held company, for an undisclosed amount.News