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IBM acquires Cognos for $5 Bn
By siliconindia
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Friday, 07 December 2007, 18:03 IST
Armonk, USA: International Business Machines (IBM), the U.S. based software company, has acquired Ottawa-based Cognos for approximately $5 billion in an all cash deal. The acquisition is expected to close in the first quarter of 2008. IBM plans to integrate Cognos as a group within IBM's Information Management Software division, focused on Business Intelligence (BI) and Performance Management.
Current Cognos President and CEO, Rob Ashe will lead the group, reporting directly to General Manager, Ambuj Goyal. "This is an exciting combination for our customers, partners, and employees. It provides us with the ability to expand our vision as the leading BI and Performance Management provider," said Ashe.
The acquisition accelerates IBM's global Information on Demand initiative, a cross-company initiative announced last year that combines IBM's strength in information integration, content and data management and business consulting services to unlock the business value of information.
IBM said the acquisition fits squarely within both its acquisition strategy and capital allocation model, and that it will contribute to the achievement of the company's objective for earnings-per-share growth through 2010.
Cognos provides the only complete Business Intelligence (BI) and performance management platform, fully integrated on open-standards based service oriented architecture (SOA), and has a strong history of supporting heterogeneous application environments. Cognos will also extend IBMs reach further into the CFO office with powerful financial planning and consolidation capabilities.
"We chose Cognos because of its industry-leading technology based on open standards, which complements IBM's Service Oriented Architecture strategy," said Steve Mills, Senior Vice President and Group Executive, IBM Software Group. Cognos has approximately 4,000 employees worldwide and serves more than 25,000 customers.
