Mergers and Acquistions News
Categories: IT Services & Consulting
September 21st 2010, 16:44PM
International Business Machines (IBM) today announced the acquisition of US-based Netezza, a data warehouse solutions firm, for $27 (£13.3) per share, or $1.7 billion (£1.09 billion).
IBM said Netezza will help enhance its business analytics services, giving customers faster access into their company information and offering lower costs but better performance.
Netezza provides data warehouses analysis products that can be deployed quickly and tackle intricate data queries at super-fast speeds, outperforming standard systems.
"IBM is bringing analytics to the masses. We continue to evolve our capabilities for systems integration, bringing together optimized hardware and software, in response to increasing demand for technology that delivers true business value. Netezza is a perfect example of this approach," said Steve Mills, senior vice president and group executive, IBM Software and Systems.
The transaction is expected to complete in the fourth quarter of 2010.
Earlier this month IBM announced a strategic partnership between it and Bharti Airtel Limited, an Indian telecoms firm. The computer giant will oversee the technology that powers Bharti's mobile communications network.
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