Tallahassee, FL 12/8/11 (StreetBeat) -- IBM (NYSE:IBM) has agreed to buy San Mateo, California-based DemandTec (Nasdaq:DMAN) for $13.20 a share, or $440 million after adjusting for balance sheet cash. IBM said the deal will provide it with “cloud-based price, promotion and other merchandising and marketing analytics to help companies better define the best price points and product mix based on customer buying trends.”The deal comes at a nearly 57% premium to yesterday’s close at $8.43.
This is the latest in a string of acquisitions involving cloud-based software companies, including this week’s $3.4 billion acquisition of SuccessFactors by SAP, and Oracle‘s recent $1.5 billion bid for RightNow.
DemandTec provides cloud-based analytics software that help businesses examine different customer buying scenarios, both online and in-store.
DemandTec has about 450 customers worldwide in retail, consumer products and other industries. The company also had a portfolio of 31 relevant patents. DemandTec, which has more than 350 employees, will be integrated into IBM’s Software Group.
The deal is subject to DemandTec holder approval and the usual regulatory approvals. Closing is expects in Q1 2012.
StreetBeat Disclaimer
No comments:
Post a Comment