IBM buys another Bay State firm

IBM Corp. said today that it has acquired Diligent Technologies, a privately held storage technology company with headquarters in Framingham.

Financial terms of the deal were not disclosed.

IBM, which has its headquarters in Armonk, N.Y., said that Diligent develops software that is integrated with server and storage systems to help organizations lower the amount and cost of physical storage required in data centers.

The company said the acquisition will become part of its system storage business unit.

IBM shares rose 66 cents to $123.74 in morning trading on the New York Stock Exchange.

By one estimate in January, IBM had acquired nine software companies in Massachusetts. In February, IBM completed a $4.5 billion acquisition of Cognos Inc., a Canadian software company with US headquarters in Burlington. (AP)