IBM deal gets Canadian approval
-
- January
- 31
The Canadian Minister of Industry has cleared the way for IBM Corp. of Armonk to acquire Ontario-based software maker Cognos, IBM said today.
Among other things, IBM agreed to ensure that senior managers would either be Canadians or be based in Canada, and to maintain certain employment levels, the company said.
IBM has agreed to buy Cognos for almost $5 billion, making the company its biggest acquisition to date. The company said it expects to close the sale shortly. Cognos will remain headquartered in Ottawa.
This entry was posted
on Thursday, January 31st, 2008 at 6:32 pm by Jerry Gleeson.
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