Johannesburg, 11 Aug 2006
IBM US has purchased content and business process management provider FileNet, for the equivalent of almost R11 billion.
Newswires SAPA and AFP report the all-cash deal will see IBM paying $35 a share - a premium of 35 US cents a share on FileNet`s Nasdaq closing price late Wednesday.
FileNet, founded 24 years ago, claims three quarters of the firms in the Fortune 100 top companies list have at one stage been its customers. It employs 1 700 staff.
Last week, IBM bought niche software vendor MRO Software for $740 million. The software division has in the past five years made 20 acquisitions, report the newswires.
Share