IBM acquires Platform Solutions
US based tech giant IBM has announced that they are acquiring Platform Solutions.
This deal would help the company gain the technology owned by this smaller rival.
This would also put an end to all the lawsuits in which the two companies are involved.
PSI chief executive Michael Maulick spoke about this deal: “This acquisition makes the most sense for our companies. To collaborate on future technology offerings.”
IBM did not reveal the financial aspects of this deal.
Computer & Communications Industry Association is however not happy with this deal. CCIA president Ed Black said: “This is a black hole acquisition. It sucks the life out of the market and destroys the matter — transforming a market with latent potential for competition and innovation into a sector with little prospects for anything but complete domination by IBM.”
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