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IBM to acquire analytics company Netezza for $1.7 billion cash |
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IBM has agreed to acquire Netezza, a publicly held company based in Marlborough, Mass., in a cash transaction of $27 per share or at a net price of approximately $1.7 billion, after adjusting for cash. Netezza, IBM said, would expand its business analytics initiatives to help clients gain faster insights into their business information, with increased performance at a lower cost. Netezza is a provides high-performance analytics in a data warehousing appliance that can be up and running in a matter of hours, handling complex analytic queries 10 to 100 times faster than traditional systems. Netezza has approximately 500 employees around the world. IBM has an existing relationship with Netezza, which designs and develops its appliances on IBM systems technology and combined with IBM software powers many applications within organizations. Both have been strategic partners for years, focusing on workload optimized systems that deliver integrated systems, software and storage for analyzing vast amounts of complex data. “The simplicity, speed and ease of deploying Netezza appliances brings analytics directly into the hands of business users within every department of an organization such as sales, marketing, product development and human resources.” IBM's statement said. IBM presently has around 6,000 consultants dedicated to analytics and has invested over $12 billion in 23 analytics related acquisitions in the past four years. In IBM's second-quarter of 2010, IBM's analytics business grew 14%. Upon closing, IBM plans to integrate Netezza within its Information Management software portfolio. The acquisition is subject to Netezza shareholder approval and other regulatory clearances and closing conditions, and is expected to close in the fourth quarter of 2010. |
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