IBM to Buy Business Units From Software AG for $2.32 Billion -- Update
18 December 2023 - 7:57PM
Dow Jones News
By Andrea Figueras
IBM said it will buy German software company Software AG's
webMethods and StreamSets divisions for 2.13 billion euros ($2.32
billion).
The acquisition comes as the U.S. technology giant continues to
focus on and invest in hybrid cloud and artificial intelligence
technology, the companies said on Monday.
The two divisions are part of Software AG's
integration-platform-as-a-service business, which brings together a
variety of applications and data.
The transaction is expected to close in the second quarter next
year.
The German company is in the midst of a multi-year
transformation plan after the U.S. private equity firm Silver Lake
acquired more than 93% of Software AG's shares in October.
In July, Silver Lake said that it intended to delist the German
software company as soon as possible.
"Silver Lake is proud to have helped the team identify and
enable the next great chapter for this business with IBM, and we
remain fully committed to supporting the Software AG team in
progressing the company's strategy," said Chairman of the
supervisory board of Software AG and Managing Partner of Silver
Lake, Christian Lucas.
Write to Andrea Figueras at andrea.figueras@wsj.com
(END) Dow Jones Newswires
December 18, 2023 03:42 ET (08:42 GMT)
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