Update: IBM to acquire Netezza for $1.7B
Netezza's high-performance analytics capabilities will be added to IBM's offerings
IDG News Service - Expanding its business analytics offerings yet again, IBM is acquiring data warehouse appliance vendor Netezza for approximately $1.7 billion in cash.
The two companies have entered into a definitive agreement calling for IBM to purchase Netezza stock in cash, for $27 per share, the companies jointly announced Monday.
"Netezza strongly complements our business analytics capabilities and client base," said Steve Mills, an IBM Software and Systems senior vice president and group executive, in a statement.
Over the last four years, IBM has spent more than $12 billion to acquire 23 analytics related companies.
IBM sees Marlborough, Mass.-based Netezza as a strategic asset and hopes to expand the use of business analytics within its customer base, the company asserted. In a survey of CIO's, IBM had found that 83% had identified analytics as a top priority. The company has dedicated over 6,000 consultants to analytics services.
Netezza offers data warehouse appliances that the company has claimed are fast and easy to deploy. A partner with IBM for several years, Netezza has built its appliances using IBM software and hardware. IBM will fold Netezza's products within IBM's Information Management software portfolio.
"The addition of Netezza will reinforce IBM's focus in understanding clients' needs by providing them a broader set of analytics capabilities and bringing the power of analytics right into the hands of business users at every level within an organization," said Arvind Krishna, Information Management, IBM information management general manager.
With over 500 employees worldwide, Netezza has approximately 350 enterprise users, including eHarmony, Estee Lauder, Nationwide Insurance, Neiman Marcus, Time Warner, Virgin Media and others.
The acquisition is subject to Netezza shareholder approval and regulatory clearances, and is expected to close in the fourth quarter, IBM said.
(IDG News Service editor Marc Ferranti contributed to this story.)
- Big Data, Big Mess: Sound Risk Intelligence Through Complete Context This paper examines the insecurity of the small businesses in the supply chain and offers tips to close those backdoors into the enterprise.
- CIOs strive to harness Big Data while keeping an eye on the bottom line Read this whitepaper to learn how Red Hat Storage Server allows CIOs to confidently support business growth, manage cost and risk, capitalize on...
- Enterprise architects challenged to manage data explosion Read this whitepaper to find out how Red Hat Storage Server can allow enterprises to quickly and confidently deliver business applications that minimize...
- Software Asset Management: Ensuring Today's Assets Today's trends like BYOD and SaaS are new and exciting in terms of how they will help make our jobs more productive but...
- Live Webcast Charting Your Analytical Future - "Making predictive analytics part of your business processes" Webinar This session will show how predictive analytics can be used throughout the organization by anyone looking for answers and how organizations can make...
- Charting Your Analytical Future - "Making predictive analytics part of your business processes" Webinar This session will show how predictive analytics can be used throughout the organization by anyone looking for answers and how organizations can make...
- Capturing Data in Motion: Delivering Real-Time Insight from Data Streams This webcast will help organizations of all types and sizes learn about a technology and business strategy for tapping into the wealth of... All Business Intelligence/Analytics White Papers | Webcasts
Our new bimonthly Internet of Things newsletter helps you keep pace with the rapidly evolving technologies, trends and developments related to the IoT. Subscribe now and stay up to date!