IBM Completes Acquisition of CrossWorlds Software; CrossWorlds' Business Process Integration Skills, Technology to be Integrated Immediately into IBM Software Group.Business Editors/High Tech Writers ARMONK, N.Y.--(BUSINESS WIRE)--Jan. 14, 2002 IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) (NYSE NYSE See: New York Stock Exchange :IBM) today announced the completion of its $129 million acquisition of CrossWorlds Software, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CWLD), ten weeks after reaching a definitive agreement to purchase the Burlingame, California-based company. The acquisition was completed on Friday after the market closed. The addition of CrossWorlds builds on IBM's industry leading middleware Software that functions as a conversion or translation layer. It is also a consolidator and integrator. Custom-programmed middleware solutions have been developed for decades to enable one application to communicate with another that either runs on a different platform or comes from a offerings and extends the unparalleled breadth of IBM's WebSphere e-business infrastructure software that helps customers develop, deploy, integrate and automate their e-business applications. CrossWorlds will be integrated into IBM immediately as a strategic component of IBM Software Group, a $13 billion business in 2000. CrossWorlds is a leading provider of software enabling (programming) software enabling - (Or "enabling") Modification of the design or implementation of software to allow internationalisation to take place. In particular, enabling may refer to the modification of software to support double-byte character sets, hence "Unicode companies to automate business processes that integrate multiple applications, such as those for managing customer relationships and supply chains, as well as to integrate business processes unique to individual industries such as telecommunications, financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. and industrial sectors. "With this acquisition complete, IBM has the industry's most complete range of integration technologies," said Ambuj Goyal, general manager, Solutions and Strategy, IBM. "Customers can now benefit from increased operational efficiency with the integration of multiple applications through shared business processes." IDC estimates that software supporting the unique business-process integration requirements of specific industries, such as provided by CrossWorlds, represents the fastest growing sub-segment of e-business infrastructure software with an annual growth of 25 percent. Combining IBM's existing WebSphere messaging integration software and CrossWorlds' process integration offerings ensures that IBM is positioned to take continued advantage of a market opportunity estimated by IDC at $4 billion by 2005. Based on a four-year business partner relationship, many IBM WebSphere offerings and CrossWorlds products are connected or integrated today. These technologies are in production at client sites, including the Whirlpool Corporation Whirlpool Corporation (NYSE: WHR) is the world's leading manufacturer and marketer of major home appliances,with annual sales of approximately $18 billion, more than 73,000 employees, and more than 70 manufacturing and technology research centers around the world. , Caterpillar and Siemens. IBM will be making significant investments in CrossWorlds' product development and go-to-market capabilities as it is integrated with the IBM Software Group operations. About IBM IBM is the world's largest information technology company, with 80 years of leadership in helping businesses innovate. For more information about IBM, visit http://www.ibm.com IBM, WebSphere and CrossWorlds are trademarks or registered trademarks of International Business Machines Corporation in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , others countries, or both. All other company, product or service names may be trademarks or service marks of others. |
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