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.)
- Best iPhone, iPad Business Apps for 2014
- 14 Tech Conventions You Should Attend in 2014
- 10 Desktop Apps to Power Your Windows PC
- How to Add New Job Skills Without Going Back to School
- Slideshow: 7 security mistakes people make with their mobile device
- iOS vs. Android: Which is more secure?
- 11 sure signs you've been hacked
- Four Myths of High-Productivity App Dev Debunked Debunk the main myths surrounding high-productivity application development and how both platforms have overcome them.
- IDC: Dual Perspectives on ITaaS This global survey by IDG Research Services of more than 350 IT and BU directors at enterprises of 1,000 employees or more reveals...
- ESG Whitepaper: Integrated Computing Platforms: Infrastructure Builds Tomorrow's Data Center Thought Leadership Report: 'Integrated Computing Platforms: Infrastructure Builds for Tomorrow's Data Center.' Highlights the challenges customers face when planning to deploy a Cloud...
- Analyst Report-Mixed All Flash Arrays Delivers Safer Higher Performance What is the impact of an all-flash array with enterprise features and reliability on the mainstream data center? In the mainstream environment, storage...
- Live Webcast Increasing the Value of Your Reports and Dashboards Learn how incorporating other analytical capabilities such as predictive modeling and visualization can increase the value of your reports and dashboards by providing...
On-Demand Webcast: 7 Reasons to Choose VoIP
Thinking about a new phone system for your business?
Be sure to watch this informative webcast. Steve Strauss, small business columnist for USA...
- Top 8 Communications Tools for Small Businesses Powerful technology is available to help your small business improve its communications with customers, employees and suppliers. View this free On-Demand Webcast produced... All Business Intelligence/Analytics White Papers | Webcasts
By Rob F. Walker, Ph.D.
In the previous installment, we looked at and discussed strategies for business simulation and the infrastructure needed to make such initiatives successful. Now, we¿re ready to discuss some practical examples of business simulation. Imagine a mail order company selling products together with the necessary financing. more