IBM to Buy Business Units From Software AG for $2.32 Billion — Update
By Andrea Figueras
IBM said it will buy German software company Software AG's webMethods and StreamSets divisions for 2.13 billion euros ($2.32 billion).
The acquisition comes as the U.S. technology giant continues to focus on and invest in hybrid cloud and artificial intelligence technology, the companies said on Monday.
The two divisions are part of Software AG's integration-platform-as-a-service business, which brings together a variety of applications and data.
The transaction is expected to close in the second quarter next year.
The German company is in the midst of a multi-year transformation plan after the U.S. private equity firm Silver Lake acquired more than 93% of Software AG's shares in October.
In July, Silver Lake said that it intended to delist the German software company as soon as possible.
"Silver Lake is proud to have helped the team identify and enable the next great chapter for this business with IBM, and we remain fully committed to supporting the Software AG team in progressing the company's strategy," said Chairman of the supervisory board of Software AG and Managing Partner of Silver Lake, Christian Lucas.
Write to Andrea Figueras at andrea.figueras@wsj.com
(END) Dow Jones Newswires
December 18, 2023 03:42 ET (08:42 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
4 Stocks to Buy as the Fed Cuts Interest Rates
-
Markets Brief: The Uncertain Path to Neutral Interest Rates
-
What’s Happening in the Markets This Week
-
Where Top Stock Fund Managers Are Looking Next After the Fed Rate Cut
-
Our Top Pick for Investing in US Renewable Energy
-
Undervalued by 25% and Yielding 5%, This Stock Is a Buy
-
Can AI Predict Future Stock Returns?
-
The Best Energy Stocks to Buy Now
-
10 Undervalued Wide-Moat Stocks
-
Obesity Drugs: Can New Firms Take Market Share From Eli Lilly and Novo Nordisk?
-
New 4-Star Stocks
-
Intel Fair Value Left Unchanged Despite Qualcomm Takeover Talk