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18/12/2023

IBM Will Pay $2.3 Billion To Acquire Software AG's Enterprise Integration Products




IBM Will Pay $2.3 Billion To Acquire Software AG's Enterprise Integration Products
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)
 

Christopher J. Mitchell

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