IBM wants to acquire Swedish company Telelogic

IBM wants to acquire Swedish company Telelogic

US based tech giant IBM has said that they have made an offer to a Swedish developer of software development tools Telelogic.

IBM is offering to acquire the company for 5.2 billion Swedish krona which comes to around $745 million.

IBM added that if they manage to acquire the company, they would make Telelogic a part of its Rational tools division.

Telelogic specializes in developing application lifecycle management applications along with other tools for business process management and other areas.

Telelogic has now said that they are advising its shareholders to accept the offer of 21 krona per share. Telelogic Chairman Bo Dimert added in his statement that the deal would benefit the investors as the company would be able to expand worldwide.

Telelogic has a customer base of about 8,000 most of which are from aerospace, defense, telecommunications, and electronics industries.