Armonk-based IBM buys software maker
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- December
- 21
IBM Corp. has agreed to buy Solid Information Technology, a privately held maker of database software, based in Cupertino, Calif., and Helsinki, Finland.
Terms of the deal weren’t disclosed.
Armonk-based IBM said the purchase broadens the company’s portfolio of database and information-management offerings, augmenting IBM’s software business, which currently provides 20 percent of total sales and 40 percent of IBM’s profit, Big Blue said.
Solid Information Technology is the 12th acquisition announced by IBM this year.
The acquisition is expected to contribute to IBM’s goal for achieving growth in per-share earnings through 2010, IBM said.
At about noon, IBM stock was trading at $110.30 a share, up $1.44, or 1.3 percent.
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on Friday, December 21st, 2007 at 1:01 pm by David Schepp.
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