Monday November 12, 9:05 am ET
International Business Machines Corp. said Monday it will acquire Cognos Inc. for $4.9 billion to enhance the company's business intelligence offerings.
Cognos (Nasdaq: COGN - News), a Canadian-based business software firm with U.S. headquarters in Burlington, Mass., already had an alliance with IBM where the two served customers such as the New York City Police Department and Canadian Tire Corp., according to a statement.
The merger plan follows similar moves from IBM rivals Oracle Corp. and SAP AG. SAP agreed to buy Cognos's rival Business Objects SA last month for $7 billion. Oracle acquired Hyperion Solutions Corp. for about $3.3 billion in April.
IBM (NYSE: IBM - News), based in Armonk, New York, is the world's biggest computer-services company.
No comments:
Post a Comment