IBM completes acquisition of Corio.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) has announced the completion of its acquisition of Corio, Inc., seven weeks after reaching a definitive agreement to purchase the San Carlos San Carlos (săn kär`lōs), residential city (1990 pop. 26,167), San Mateo co., W Calif.; inc. 1925. The chief manufactures are plastic products, hardware, and machine parts. , Calif.-based company. Ingersoll-Rand (NYSE NYSE See: New York Stock Exchange :IR) is among the customers that will take advantage of the combined capabilities from Corio and IBM. Ingersoll-Rand's diverse product portfolio encompasses leading industrial and commercial brands such as Schlage locks and security solutions; Thermo King transport temperature control equipment; Hussmann commercial and retail refrigeration refrigeration, process for drawing heat from substances to lower their temperature, often for purposes of preservation. Refrigeration in its modern, portable form also depends on insulating materials that are thin yet effective. equipment; Bobcat bobcat: see lynx. bobcat Bobtailed, long-legged North American cat (Lynx rufus) found in forests and deserts from southern Canada to southern Mexico. It is a close relative of the lynx and caracal. compact equipment; Club Car golf cars and utility vehicles; and Ingersoll-Rand industrial and construction equipment. "Ingersoll-Rand is a large enterprise with operations worldwide, and we need a cost-efficient flexible way to deploy our technology footprint--the on demand model is one of our most important solutions," said Barry Libenson, Vice President and Chief Information Officer, Ingersoll-Rand. "Corio has done an excellent job supporting our Oracle and Siebel software A family of Web-based customer relationship management (CRM) applications from Siebel Systems, Inc., San Mateo, CA (www.siebel.com). A complete range of products for sales, marketing and customer service are provided. implementations, and we believe the combined strengths of Corio and IBM will further enhance our relationship." The acquisition strengthens IBM's application services See ASP and Web services. portfolio by adding Corio's capabilities and technologies which facilitate rapid application deployment and automated application management for clients. The acquisition is also expected to enhance IBM's application services capabilities for clients using business software from Ariba, Epiphany, Oracle, PeopleSoft, SAP and Siebel. In addition, Corio's capabilities complement IBM's strategy to offer more asset-based services, which help clients by automating inefficient manual IT tasks. "As enterprise applications become more complex and costly to manage, we see growing demand for application services," said Jim Corgel, General Manager, Small and Mid-Sized Business, IBM Global Services IBM Global Services is the world's largest business and technology services provider. It is the fastest growing part of IBM, with over 190,000 professionals serving customers in more than 160 countries. . "IBM, with the new capabilities from Corio, is uniquely positioned to help clients navigate these challenges." Corio has been a leading enterprise application management provider since it was founded in 1998. Corio's Applications on Demand operational platform helps efficiently deliver applications as a service. Corio services and technologies enable flexible pay-as-you-go pricing, helping to minimize upfront costs and improve return on investment. Corio application services will be available immediately in the U.S. and will be marketed as part of a broader IBM application services portfolio. IBM will extend its new application services to Asia and Europe in 2006. |
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