US-based IT giant
IBM
has announced that it would buy German software company
Software AG's enterprise
technology platforms for $2.33 billion to bolster its artificial intelligence and hybrid cloud offerings. IBM said that it will buy the two platforms with available cash on hand.
Software AG
is majority owned by private equity firm
Silver Lake
.
IBM will acquire Software AG's StreamSets and webMethods platforms.
The platforms provide application integration, application programming interface (API) management, and data integration among other uses. StreamSets allows companies to ingest vast amounts of data for training AI systems, while WebMethods helps companies better manage application planning interfaces — software gateways that allow different systems to interact with each other.
StreamSets will add data ingestion capabilities to Watsonx, IBM's AI and data platform while webMethods will give clients and partners additional integration and API management tools for their hybrid multi-cloud environments.
The transaction is subject to regulatory approvals and is expected to be completed in the second quarter of 2024.
What the two companies said
"The opportunity to bring the StreamSets and webMethods teams together with IBM to innovate in building the future of hybrid cloud and next-generation AI solutions for the enterprise is uniquely compelling," Christian Lucas, chairman of the supervisory board of Software AG said in a statement.
"Together with IBM's Watsonx AI and data platform, as well as its application modernisation, data fabric and IT automation products, StreamSets and webMethods will help clients unlock the full potential of their applications and data. This powerful combination helps drive innovation while preparing businesses for AI, no matter where applications or data reside," said Rob Thomas, SVP, Software and Chief Commercial Officer, IBM.
(with agency inputs)
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