Subj : IBM snaps up Software AG enterprise tech business for $2.3bn
To   : All
From : TechnologyDaily
Date : Mon Dec 18 2023 12:00:05

IBM snaps up Software AG enterprise tech business for $2.3bn

Date:
Mon, 18 Dec 2023 11:54:39 +0000

Description:
StreamSets and webMethods will by acquired by IBM in multibillion-dollar cash 
deal by mid-2024.

FULL STORY
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IBM has announced plans to buy Software AGs Super integration 
platform-as-a-service ( PaaS ) enterprise technology platforms, StreamSets 
and webMethods, in a deal worth 2.13 billion ($2.33 billion) in cash. 

The deal will see IBM benefit from Software AGs existing technologies which 
are credited with being leaders in application integration, API management, 
and data integration  to strengthen its own artificial intelligence and 
hybrid cloud offerings. 

Californian tech investor Silver Lake is currently the primary owner of 
Software AG, accounting for 93.3% of its shares. IBM iPaaS expansion 

The deal includes IBMs acquisition of StreamSets, a cloud-native DataOps and 
data ingestion platform, and webMethods, an integration and API management 
platform. Together, IBM said that the sale represents its deep focus and 
investment in artificial intelligence and hybrid cloud. 

Rob Thomas, SVP for Software and Chief Commercial Officer at IBM, said: 
Together with IBM's watsonx AI and data platform, as well as its application 
modernization, data fabric and IT automation products, StreamSets and 
webMethods will help clients unlock the full potential of their applications 
and data. 

In its announcement, IBM added that it had been working with Darmstadt, 
Germany-headquartered Software AG for over two decades. For Software AGs 
products, IBM ownership will see them gain even more popularity as they reach 
the firms 175+ operating countries. 

Software AG CEO Sanjay Brahmawar said: "Combined with IBM's global scale and 
focus on hybrid cloud and AI, our people will have a fantastic opportunity to 
develop while helping enterprises everywhere get the most out of their 
applications and data." 

Completion of the deal is subject to customary closing conditions and 
regulatory approvals, but assuming a positive outcome, IBM hopes to have 
acquired StreamSets and webMethods by the end of Q2 2024. More from TechRadar 
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Link to news story:
https://www.techradar.com/pro/ibm-snaps-up-software-ag-enterprise-tech-busines
s-for-dollar23bn


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