Monday, November 12, 2007

IBM to Buy Cognos

A month after SAP announced it was buying Business Objects, IBM has now announced it will acquire Cognos for $4.9 billion, or $58 a share.

The two companies already had an alliance where they served customers such as the New York City Police Department and Canadian Tire Corp., according to a statement today.

IBM said the all-cash deal was subject to shareholder approval and should close in the first quarter of 2008.

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