IBM Corp. agrees to buy French software maker
IBM Corp. agreed today to pay about $215 million euros ($340 million) for Ilog SA, a French maker of business software.
The deal will enable the Armonk-based computing giant to combine its business process management, business optimization and service oriented architecture technologies with Ilogâ€™s business rules management systems software, IBM said.
IBMâ€™s offer represents a 37 percent premium above Ilogâ€™s closing price on Friday.
The deal has the approval of the Ilog board, which will make a decision on the deal before Sept. 15, after which the offer will be filed with the French stock exchange authority.
Shares of Big Blue rose fractionally in trading today to $126.48 each.