Tuesday, September 21, 2010

IBM agrees to buy Netezza for $1.7 bn

International Business Machines Corp, the world`s largest computer-services provider, agreed to buy Netezza for about $1.7 billion to gain analytics technology. Netezza investors will receive $27 a share in cash, IBM said on Monday in a statement. That`s a 9.8% more than the Marlborough, Massachusetts-based company`s September 17 closing price.

IBM CEO Sam Palmisano said in May he is planning to spend $20 billion on buyouts in the next five years, investing in markets such as analytics software, which helps companies predict trends.