IBM bids $2bn for analytics firm Netezza

first_img whatsapp IBM bids $2bn for analytics firm Netezza KCS-content whatsapp IBM yesterday said it will buy data analytics company Netezza for $1.7bn (£1.1bn) in a bid to expand its technology services business.It hopes the acquisition will help its clients more expertly analyse market information as it shifts its focus from computer hardware to higher-margin software and services.The deal values Netezza at $27 per share, a 9.8 per cent premium from Friday’s closing price of $24.60.Analysts are now speculating a rival bidder could emerge, pushing the price up even higher.Massachusetts-based Netezza sells appliances that combine analytical software and hardware to clients such as online dating site eHarmony and financial exchange operator NYSE Euronext. IBM said the speed of Netezza’s technology had convinced it to buy the company. The two are currently partners, with Netezza using IBM hardware.Arvind Krishna, general manager of information management at IBM, said analytics, which accounted for about $9bn of IBM’s $95.8bn in revenue last year, was a significant growth opportunity for the company.IBM said in May it planned to spend about $20bn in acquisitions through 2015 to expand its software and services business. The firms said they expect the deal to close in the fourth quarter. The deal includes a termination fee of $56m, according to a regulatory filing.The agreement also comes amid a resurgence in mergers and acquisitions activity. Last month saw an unseasonable burst of deal making, with data showing announced deals totaled $262bn, the highest for an August since 1999.Analysts have said this could continue, helped by low interest rates, record cash holdings and low stock market values, with ambitious firms striving to become one-stop shops selling everything from networking and servers to software and services. More From Our Partners Mark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comcenter_img Show Comments ▼ Monday 20 September 2010 8:58 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Share Tags: NULLlast_img

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