IBM Corp. to acquire Cognos Inc.

US based tech giant IBM has announced their decision to acquire Cognos Inc. for $5 billion.

The deal would be conducted in a cash transaction. IBM would be able to enhance their business intelligence solution offerings with this acquisition.

IBM has been acquiring companies in the recent past to enhance their software and services offerings to stay competitive in the market.

IBM representative Steve Mills said in a statement on this latest deal: “We never do acquisitions on defensive moves or based on what others are doing.”

The company added that they would now integrate Cognos products in its information management software division.

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