IBM to Acquire Software AG's Tech Business For $2.3 Billion By CIOTechOutlook Team

IBM to Acquire Software AG's Tech Business For $2.3 Billion

CIOTechOutlook Team | Tuesday, 19 December 2023, 02:37 IST

IBM announced a €2.13 billion ($2.33 billion) acquisition of Software AG's corporate IT platforms to enhance its artificial intelligence and hybrid cloud solutions. The business stated that it will purchase Software AG's StreamSets and webMethods platforms using cash on hand.

The platforms provide application integration, application programming interface (API) management, and data integration among other uses. Software AG is majority owned by private equity firm Silver Lake, as per economic times.

"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.

International Business Machines firm is a worldwide technology firm located in Armonk, New York, with operations in over 175 countries. It specializes in computer hardware, middleware, and software, as well as hosting and consulting services spanning from mainframe computers to nanotechnology.

IBM is the world's biggest industrial research organization, with 19 research locations in a dozen countries. From 1993 to 2021, IBM held the record for the most yearly U.S. patents generated by a firm. The Computing-Tabulating-Recording Company (CTR), a holding company of manufacturers of record-keeping and measurement devices, was incorporated in 1911 as IBM. In 1924, it was renamed "International Business Machines" and quickly rose to prominence as the premier maker of punch-card tabulating devices.