IBM will buy data analytics firm Netezza for $1.78 Billion, Dow Jones newswires reports.
Netezza clients include Amazon and governement agencies.
On its Web site, Netezza says it “revolutionised and simplified analytics for companies drowning in data and struggling to find the processing speed and power to analyse and understand what it all meant.”
The company calls its products “data warehouse appliances.”
Netezza shareholders will get $27 per share, a 9.8% premium.
IBM continues to undergo a so far successful transition from the hardware business to the software and services business.
There have been non-stop big tech mergers of late. We think there should be more: The 15 Top Tech Takeover Targets