IBM closes acquisition of software make Initiate Systems, no terms disclosed

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IBM finishes acquisition of software co Initiate

ARMONK, N.Y. — International Business Machines Corp. said Monday it has closed its acquisition of privately held Initiate Systems.

No financial terms were disclosed.

Chicago-based Initiate makes software for sharing data in many industries but particularly between health care and government organizations.

IBM has said the deal will allow it to offer a cheaper and more efficient way to share medical histories and other data across organizations.

IBM’s shares rose $1.43 to $128.59 in midday trading.