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IBM (NYSE:IBM) Monday said it has entered into a definitive agreement with Software AG, majority owned by Silver Lake, to purchase StreamSets and webMethods, for €2.13 billion in cash, as it looks to bolster its AI and hybrid cloud offerings.
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 pending acquisition follows a more than 20-year relationship between IBM and Software AG, with both StreamSets and webMethods expected to drive synergy with IBM’s current portfolio, including watsonx, Red Hat, the company’s IT automation products, as well as IBM Consulting.
The deal is expected to be completed in the second quarter of 2024.
Source: Press Release