IBM (IBM) is bolstering its artificial intelligence (A.I.) and cloud computing offerings by acquiring Software AG's (SOW) enterprise integration platforms for $2.33 billion U.S.
IBM has announced that it will acquire Software AG's “StreamSets” and “webMethods” platforms with cash.
The two units formed Software AG's so-called “Super Ipaas” business that was launched this October.
The platforms provide application integration, application programming interface (API) management, and data integration among other uses.
The deal is subject to regulatory approvals and is expected to close in the second quarter of 2024.
Once completed, the new products will help to improve IBM’s A.I. and cloud computing offerings, two areas where the company sees growth opportunities.
The stock of IBM has gained 15% in 2023 to trade at $162.23 U.S. per share.
