The acquisition, expected to close in next year's first quarter, would be IBM’s twenty-third since it launched its Information on Demand strategy back in February 16, 2006.
IBM said the deal would combine Cognos’ products with IBM’s consulting services, hardware, and other middleware products.
In a joint press release, the two companies asserted that the combined company will become the leading provider of technology and services for business intelligence (BI) and performance management.
Cognos specializes in BI and performance management products, and claims to help corporate customers plan, understand and manage financial and operational performance. It says it serves more than 25,000 customers.
The deal would be the latest in a long wave of software transactions—led recently by SAP's $6.8 billion planned purchase of Paris-based Business Objects and Oracle Corp.’s acquisition of Hyperion Solutions for $3.3 billion. In September, Cognos itself made the latest in a number of acquisitions, buying Applix Inc. At the time, Cognos said it was still in the market to buy other companies.
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