IBM to buy Software AG's enterprise tech business for $2.3 bln (updated)

Software AG

18/12/2023 08:11

(Recasts paragraph 1, adds details from the statement)
       Dec 18 (Reuters) - IBM  IBM.N  on Monday said that it
would buy Software AG's  SOWGn.DE  enterprise technology
platforms for 2.13 billion euros ($2.33 billion) to bolster its
artificial intelligence and hybrid cloud offerings.
    IBM will acquire Software AG's StreamSets and webMethods
platforms with available cash on hand, it said. 
    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.
    "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. 
    
    
        
  
        
  
        
  
($1 = 0.9158 euros)

 (Reporting by Shivani Tanna in Bengaluru; Editing by Rashmi
Aich)
 ((ShivaniJayesh.Tanna@thomsonreuters.com;))