At least four US-based technology companies have kicked off 2004 by making strategic acquisitions to improve business opportunities for the year ahead. FreeMarkets, Agere Systems, Netegrity and TechTeam Global have all announced bold business moves in recent days.
Online auctioneer, FreeMarkets, has acquired Covisint`s online auction division that was set up four years ago by General Motors, Ford and Daimler-Chrysler for business-to-business transactions with component suppliers. FreeMarkets says the deal will strengthen its presence in the automotive industry. A streamlined Covisint will continue to develop Web portals and other software tools for the motor industry.
Cellular telephone and WiFi chip manufacturer, Agere Systems, has acquired Gigabit Ethernet switch developer, TeraBlaze, in a $21 million deal. Agere says its acquisition is part of its plans to gain a bigger share in the Gigabit Ethernet market.
In a $42.5 million deal, identity and access management developer, Netegrity, has acquired Business Layers and plans to integrate the Israeli company`s security and efficiency technology into its product.
IT outsourcing company, TechTeam Global, has acquired Digital Support Corporation for $6.3 million to bolster its systems integration and outsourcing services.
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