IBM enters definitive agreement to acquire Netezza.
TELECOMWORLDWIRE-September 20, 2010-IBM enters definitive agreement to acquire Netezza(C)1994-2010 M2 COMMUNICATIONS http://www.m2.com
IBM (NYSE:IBM) and data warehouse, analytic and monitoring appliances provider Netezza Corporation (NYSE:NZ) announced on Monday they have entered into a definitive agreement for IBM to acquire Netezza in a cash transaction.
IBM is to acquire Netezza at a price of USD27 per share or at a net price of approximately USD1.7bn, after adjusting for cash.
According to the company, Netezza will expand IBMa[euro](tm)s business analytics initiatives to help clients gain faster insights into their business information, with increased performance at a lower cost.
The acquisition is expected to close in Q4 2010, subject to customary closing conditions.
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|Date:||Sep 20, 2010|
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