In order to strengthen its artificial intelligence and hybrid cloud services, IBM announced on Monday that it will acquire Software AG's corporate integration platforms for 2.13 billion euros ($2.33 billion).
With cash on hand, IBM plans to purchase Software AG's StreamSets and webMethods platforms, the company announced. The two units formed Software AG's so-called "Super Ipaas" business, which was launched in October.
Among its many uses are data integration, application integration, and application programming interface (API) administration.
After a protracted takeover attempt that lasted several months, private equity firm Silver Lake now has 93.3% of the German software company's shares. That deal valued the whole business at 2.6 billion euros ($2.84 billion).
"The opportunity to bring the StreamSets and webMethods teams together with IBM to innovate in building the future of hybrid cloud and next-generation AI solutions for the enterprise is uniquely compelling," Christian Lucas, chairman of the supervisory board of Software AG said in a statement.
The deal is anticipated to close in the second quarter of 2024, pending regulatory approvals.
Simultaneously, Silver Lake revealed its offer to delist Software AG at a price of 32 euros ($34.96) per share, which is anticipated to happen after its acquisition this year.
(Source:www.businessworld.in)
With cash on hand, IBM plans to purchase Software AG's StreamSets and webMethods platforms, the company announced. The two units formed Software AG's so-called "Super Ipaas" business, which was launched in October.
Among its many uses are data integration, application integration, and application programming interface (API) administration.
After a protracted takeover attempt that lasted several months, private equity firm Silver Lake now has 93.3% of the German software company's shares. That deal valued the whole business at 2.6 billion euros ($2.84 billion).
"The opportunity to bring the StreamSets and webMethods teams together with IBM to innovate in building the future of hybrid cloud and next-generation AI solutions for the enterprise is uniquely compelling," Christian Lucas, chairman of the supervisory board of Software AG said in a statement.
The deal is anticipated to close in the second quarter of 2024, pending regulatory approvals.
Simultaneously, Silver Lake revealed its offer to delist Software AG at a price of 32 euros ($34.96) per share, which is anticipated to happen after its acquisition this year.
(Source:www.businessworld.in)
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