Thursday, August 10, 2006
IBM has agreed to acquire content-management software maker FileNet for about $1.6 billion in cash, the companies said Thursday.
With sales of nearly $422 million last year, FileNet is one of the largest specialists in content and document management software sold to large corporations based in Costa Mesa, Southern California.
IBM said that it will integrate FileNet's products with its own content-management software developed in its Information Management division, which is led by general manager Ambuj Goyal.
In addition, IBM said it will seek to combine FileNet's content-management software with its business process management tools for automating complex business workflows.
The acquisition price of $35 per FileNet share is only a slight premium over the closing price of FileNet's stock on Wednesday.
By: DocMemory
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