Adding to the M&A momentum in business software and services, IBM has revealed an agreement to buy business analytics provider Netezza Corporation for US$1.7 billion in cash, reports the Financial Times.
As of press time, no competitor has emerged to outbid IBM. “Someone could swoop in at the eleventh hour and try to outbid IBM,” Shawn Rogers, analyst at Enterprise Management Associates, told FT.
“We expect [the IBM deal] to continue to support ongoing M&A-driven valuations across the technology landscape,” analysts at Stifel Nicolaus told FT.
In a statement, IBM said Netezza would help it expand its business information and analytics offerings. Netezza's products integrate databases, servers and storage into a single appliance. Its service competes directly with Oracle’s Exadata data warehousing appliance.
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