Solid Information Technology acquired by IBM

IBM has announced that they are now acquiring memory database software provider Solid Information Technology.

They are buying the company from private owners for an unspecified amount. The owners of the company included Apax Partners and CapMan.

IBM further said that they expect this acquisition to be completed by the first quarter of 2008.

The company added in a statement: “IBM’s acquisition of Solid Information Technology supports the company’s growth strategy and capital allocation model, and it is expected to contribute to the achievement of the company’s objective for earnings-per-share growth through 2010.”

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