IBM to buy Netezza

 
IBM agreed to pay $27 per share for Netezza, the companies said on Monday, a 10 per cent premium from Friday’s closing price of $24.60.

IBM said analytics, which accounted for about $9 billion of it’s $95.76 billion in revenue last year, was significant growth opportunity for the company. IBM employs 6,000 analytics consultants, while Netezza has 500 employees. An IBM executive said it chose Netezza due in part to its ability to analyze online data quickly.

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