IBM is buying AT&T subsidiary Sterling Commerce, maker of business-to-business data integration software, for about US $1.4 billion in cash, the companies announced Monday.
The pending acquisition will bolster IBM's already burgeoning portfolio of data management software. Sterling Commerce's capabilities, combined with IBM's own middleware and analytics products, will help companies respond more nimbly to sudden business challenges," IBM said.
IBM is buying market share as well as technology. Sterling Commerce counts about 18,000 customers in the financial services, retail, manufacturing and other industries, according to a statement.
The deal is expected to close in the second half of this year.
(More to follow).