IBM to buy Netezza for $1.7 billion
Technology giant IBM Corp. said this morning that it plans to pay about $1.7 billion to buy Netezza Corp., a Marlborough company that sells hardware and software that helps big companies run their data warehouses.
"Netezza will expand IBM's business analytics initiatives to help clients gain faster insights into their business information, with increased performance at a lower cost," Armonk, N.Y.-based IBM said in a press release. "The acquisition, which is subject to Netezza shareholder approval, applicable regulatory clearances and other customary closing conditions, is expected to close in the fourth quarter of 2010."
The proposed deal values publicly traded Netezza at $27 a share, IBM said. Netezza shares closed Friday at $24.60.
According to the Globe 100, the Globe's annual report on top businesses in Massachusetts, Netezza had 2009 revenues of $190.6 million and a head count of 425 employees.
Over the past four years, IBM said it has invested more than $12 billion in 23 analytics related acquisitions.
On a geographical note, IBM has bought more than a dozen company in Massachusetts since 2003.
IBM recently agreed to buy Unica Corp. of Waltham for $480 million. That deal will help IBM establish itself in marketing automation software, which helps firms analyze information about their customers, such as age, gender, and previous purchases.
IBM also just closed a deal to buy data storage company Storwize Inc. of Marlborough.
Other local acquisitions include Guardium Inc., Ounce Labs Inc., and data storage businesses FilesX Inc. and Diligent Technologies.